Sawyer & Company Inc Decreases Stake in McKesson Co. (NYSE:MCK)

Sawyer & Company Inc lowered its position in shares of McKesson Co. (NYSE:MCK) by 34.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 503 shares of the company’s stock after selling 264 shares during the quarter. Sawyer & Company Inc’s holdings in McKesson were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% during 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 shares of McKesson during the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the 3rd quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC grew its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCK shares. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Morgan Stanley increased their target price 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, Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Down 1.7 %

McKesson stock opened at $583.51 on Thursday. The stock has a market cap of $74.07 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.25 and a beta of 0.52. The business has a 50-day simple moving average of $595.09 and a 200 day simple moving average of $560.90. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The company 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%. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.23 earnings per share. On average, research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson 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 completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

About McKesson

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.