Arkadios Wealth Advisors Sells 33 Shares of McKesson Co. (NYSE:MCK)

Arkadios Wealth Advisors lowered its stake in McKesson Co. (NYSE:MCK) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,846 shares of the company’s stock after selling 33 shares during the quarter. Arkadios Wealth Advisors’ holdings in McKesson were worth $1,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. AE Wealth Management LLC increased its stake in shares of McKesson by 38.7% in the second quarter. AE Wealth Management LLC now owns 7,951 shares of the company’s stock worth $4,644,000 after purchasing an additional 2,217 shares in the last quarter. Sei Investments Co. increased its stake in McKesson by 6.1% in the 2nd quarter. Sei Investments Co. now owns 180,886 shares of the company’s stock worth $105,642,000 after buying an additional 10,456 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in McKesson by 5.5% during the second quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock valued at $11,117,000 after acquiring an additional 998 shares during the period. Sompo Asset Management Co. Ltd. lifted its position in shares of McKesson by 6.5% in the second quarter. Sompo Asset Management Co. Ltd. now owns 660 shares of the company’s stock valued at $385,000 after acquiring an additional 40 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of McKesson in the second quarter worth about $2,596,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.4 %

McKesson stock opened at $592.69 on Monday. The firm has a market capitalization of $75.24 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a 50-day moving average price of $595.11 and a 200-day moving average price of $561.17.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analyst Ratings Changes

Several research firms have weighed in on MCK. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. 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 stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value 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 $869,854.83. The trade was a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

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.