McKesson Co. (NYSE:MCK) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 49.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 755 shares of the company’s stock after selling 734 shares during the quarter. KG&L Capital Management LLC’s holdings in McKesson were worth $430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MCK. Western Financial Corp CA increased its holdings in shares of McKesson by 4.3% in the fourth quarter. Western Financial Corp CA now owns 1,595 shares of the company’s stock valued at $909,000 after buying an additional 66 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in McKesson by 85.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock worth $745,000 after acquiring an additional 580 shares in the last quarter. Waldron Private Wealth LLC boosted its position in McKesson by 7.1% during the 4th quarter. Waldron Private Wealth LLC now owns 1,430 shares of the company’s stock worth $816,000 after acquiring an additional 95 shares during the period. Caprock Group LLC grew its stake in McKesson by 9.0% during the 4th quarter. Caprock Group LLC now owns 7,900 shares of the company’s stock valued at $4,508,000 after acquiring an additional 652 shares in the last quarter. Finally, Narus Financial Partners LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $215,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Performance

McKesson stock opened at $594.85 on Friday. The business’s 50-day simple moving average is $590.79 and its 200-day simple moving average is $562.23. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market capitalization of $75.51 billion, a PE ratio of 30.81, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 earnings per share. Research analysts forecast that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued 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 dividend yield of 0.48%. McKesson’s 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.