McKesson Co. (NYSE:MCK) Shares Sold by Beacon Financial Group

Beacon Financial Group reduced its position in McKesson Co. (NYSE:MCK) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,791 shares of the company’s stock after selling 84 shares during the quarter. Beacon Financial Group’s holdings in McKesson were worth $3,300,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake 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 buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust acquired a new stake in McKesson during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. 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. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $645.79.

McKesson Stock Up 1.2 %

Shares of MCK opened at $610.57 on Wednesday. The company has a market cap of $77.51 billion, a P/E ratio of 27.96, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm’s 50 day moving average price is $588.04 and its 200 day moving average price is $562.60.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts forecast that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Dividend Announcement

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 paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

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.