Heritage Wealth Advisors Sells 148 Shares of McKesson Co. (NYSE:MCK)

Heritage Wealth Advisors decreased its position in McKesson Co. (NYSE:MCK) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 721 shares of the company’s stock after selling 148 shares during the period. Heritage Wealth Advisors’ holdings in McKesson were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC increased its holdings in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after buying an additional 321,119 shares during the period. Proficio Capital Partners LLC purchased a new stake in McKesson during the fourth quarter worth $178,397,000. Finally, Raymond James Financial Inc. bought a new stake in McKesson during the 4th quarter valued at $128,125,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.3 %

Shares of NYSE MCK opened at $662.71 on Wednesday. The firm has a market cap of $83.05 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s 50-day simple moving average is $619.05 and its 200-day simple moving average is $576.50. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $670.79.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 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%. Equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $649.36.

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.