McKesson Co. (NYSE:MCK) Shares Sold by Old Port Advisors

Old Port Advisors lowered its position in McKesson Co. (NYSE:MCK) by 21.5% in the fourth quarter, HoldingsChannel reports. The firm owned 1,367 shares of the company’s stock after selling 375 shares during the period. Old Port Advisors’ holdings in McKesson were worth $779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the 2nd quarter valued at about $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.2 %

MCK traded down $0.93 during trading on Thursday, hitting $568.98. 64,692 shares of the stock were exchanged, compared to its average volume of 816,359. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock has a fifty day moving average price of $582.07 and a two-hundred day moving average price of $562.22. The firm has a market capitalization of $72.23 billion, a P/E ratio of 29.47, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 EPS. Analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.50%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MCK shares. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $650.14.

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.