McKesson Co. (NYSE:MCK) Stock Position Trimmed by Wellspring Financial Advisors LLC

Wellspring Financial Advisors LLC decreased its position in McKesson Co. (NYSE:MCK) by 20.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 406 shares of the company’s stock after selling 102 shares during the period. Wellspring Financial Advisors LLC’s holdings in McKesson were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Millstone Evans Group LLC acquired a new stake in McKesson in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter worth about $34,000. Finally, Graney & King LLC bought a new position in McKesson in the 4th quarter valued at about $38,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two equities research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.00.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

McKesson stock opened at $682.41 on Monday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The firm has a market capitalization of $85.52 billion, a price-to-earnings ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49. The company has a 50 day moving average price of $633.37 and a 200 day moving average price of $585.92.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.