Wells Trecaso Financial Group LLC Sells 361 Shares of McKesson Co. (NYSE:MCK)

Wells Trecaso Financial Group LLC lessened its position in McKesson Co. (NYSE:MCK) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,374 shares of the company’s stock after selling 361 shares during the period. McKesson accounts for 2.1% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 16th biggest position. Wells Trecaso Financial Group LLC’s holdings in McKesson were worth $6,482,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Old North State Trust LLC increased its stake in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont boosted its stake in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC grew its holdings in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the last quarter. QV Investors Inc. increased its stake in McKesson by 0.6% in the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after buying an additional 20 shares during the period. Finally, ASB Consultores LLC lifted its holdings in McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock valued at $435,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 2.2 %

Shares of MCK stock opened at $597.31 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business’s fifty day simple moving average is $593.20 and its 200-day simple moving average is $561.23. The company has a market cap of $75.82 billion, a PE ratio of 30.93, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last released its 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business earned $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued 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 (DPR) is presently 14.71%.

Insider Transactions at McKesson

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 transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MCK shares. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho began 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. Finally, 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 report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $646.14.

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.