McKesson Co. (NYSE:MCK) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 77.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,031 shares of the company’s stock after selling 6,993 shares during the quarter. Howe & Rusling Inc.’s holdings in McKesson were worth $1,158,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter valued at $33,000. Finally, Atala Financial Inc purchased a new stake in McKesson during the fourth quarter worth approximately $34,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Price Performance

MCK opened at $662.45 on Thursday. The company’s 50 day simple moving average is $620.63 and its 200-day simple moving average is $577.10. The stock has a market capitalization of $83.02 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $670.79.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.