Wellington Shields & Co. LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Wellington Shields & Co. LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,064 shares of the company’s stock after selling 289 shares during the quarter. Wellington Shields & Co. LLC’s holdings in McKesson were worth $1,176,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in shares of McKesson by 3.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,090 shares of the company’s stock valued at $1,528,000 after purchasing an additional 98 shares during the last quarter. Huntington National Bank raised its position in shares of McKesson by 5.9% in the 3rd quarter. Huntington National Bank now owns 6,236 shares of the company’s stock valued at $3,083,000 after purchasing an additional 347 shares during the last quarter. Metis Global Partners LLC raised its position in shares of McKesson by 2.1% in the 3rd quarter. Metis Global Partners LLC now owns 5,840 shares of the company’s stock valued at $2,887,000 after purchasing an additional 120 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of McKesson by 64.1% in the 3rd quarter. Impax Asset Management Group plc now owns 1,805 shares of the company’s stock valued at $892,000 after purchasing an additional 705 shares during the last quarter. Finally, King Wealth Management Group purchased a new position in shares of McKesson in the 3rd quarter valued at approximately $264,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $650.96 on Friday. The stock has a market capitalization of $81.58 billion, a price-to-earnings ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $663.62. The firm’s 50 day simple moving average is $608.54 and its 200-day simple moving average is $570.71.

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 analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Analyst Ratings Changes

Several brokerages recently commented on MCK. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last quarter. 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.