Soltis Investment Advisors LLC Decreases Holdings in McKesson Co. (NYSE:MCK)

Soltis Investment Advisors LLC reduced its stake in McKesson Co. (NYSE:MCK) by 6.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,169 shares of the company’s stock after selling 285 shares during the quarter. Soltis Investment Advisors LLC’s holdings in McKesson were worth $2,376,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at $32,000. Finally, Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter worth $33,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. 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 report on Monday, January 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI upped 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. Finally, Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Stock Down 0.7 %

NYSE:MCK opened at $595.77 on Monday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a market cap of $75.63 billion, a P/E ratio of 27.28, a PEG ratio of 1.30 and a beta of 0.52. The business’s 50-day moving average price is $588.40 and its two-hundred day moving average price is $562.74.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts expect that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is 13.00%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value 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. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.