McKesson Co. (NYSE:MCK) Stock Holdings Lessened by Archford Capital Strategies LLC

Archford Capital Strategies LLC cut its holdings in McKesson Co. (NYSE:MCK) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 929 shares of the company’s stock after selling 19 shares during the quarter. Archford Capital Strategies LLC’s holdings in McKesson were worth $529,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC lifted its position in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MCK. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Two investment 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. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Down 1.0 %

NYSE MCK opened at $591.47 on Monday. The company’s 50 day moving average is $592.65 and its 200-day moving average is $561.31. The firm has a market cap of $75.08 billion, a P/E ratio of 30.63, 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.

McKesson (NYSE:MCK) last issued its quarterly 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 firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date 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%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated 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 directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

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.