McKesson Co. (NYSE:MCK) Stake Lessened by CGN Advisors LLC

CGN Advisors LLC lowered its stake in McKesson Co. (NYSE:MCK) by 5.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,296 shares of the company’s stock after selling 316 shares during the period. CGN Advisors LLC’s holdings in McKesson were worth $3,018,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MCK. Integrated Investment Consultants LLC boosted its holdings in shares of McKesson by 3.9% in the 4th quarter. Integrated Investment Consultants LLC now owns 2,198 shares of the company’s stock valued at $1,253,000 after buying an additional 82 shares during the period. Brooklyn Investment Group boosted its stake in McKesson by 2.6% in the fourth quarter. Brooklyn Investment Group now owns 1,068 shares of the company’s stock valued at $609,000 after acquiring an additional 27 shares during the period. Merit Financial Group LLC grew its holdings in shares of McKesson by 127.1% during the fourth quarter. Merit Financial Group LLC now owns 10,060 shares of the company’s stock valued at $5,734,000 after purchasing an additional 5,630 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of McKesson during the 4th quarter worth approximately $7,902,000. Finally, Empirical Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $19,382,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Finally, Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Trading Down 0.4 %

NYSE MCK opened at $592.69 on Friday. The company has a market cap of $75.24 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a fifty day simple moving average of $595.51 and a 200 day simple moving average of $561.29.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 EPS. The company’s revenue was up 21.3% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is 14.71%.

McKesson 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.