Legacy Capital Wealth Partners LLC Decreases Position in McKesson Co. (NYSE:MCK)

Legacy Capital Wealth Partners LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 9.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 566 shares of the company’s stock after selling 62 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in McKesson were worth $262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. U.S. Capital Wealth Advisors LLC raised its position in McKesson by 2.5% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,757 shares of the company’s stock valued at $764,000 after purchasing an additional 43 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of McKesson by 6.8% during the third quarter. Valeo Financial Advisors LLC now owns 1,198 shares of the company’s stock worth $521,000 after buying an additional 76 shares during the period. PDS Planning Inc lifted its stake in McKesson by 3.5% in the third quarter. PDS Planning Inc now owns 865 shares of the company’s stock worth $376,000 after acquiring an additional 29 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in McKesson by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 61,484 shares of the company’s stock worth $26,737,000 after acquiring an additional 1,268 shares in the last quarter. Finally, RMR Wealth Builders acquired a new position in McKesson during the 3rd quarter worth approximately $286,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MCK shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Argus upped their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. SVB Leerink began coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Citigroup upped their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

McKesson Stock Performance

NYSE MCK opened at $536.09 on Tuesday. The firm’s fifty day moving average is $528.65 and its two-hundred day moving average is $490.49. McKesson Co. has a one year low of $352.34 and a one year high of $544.81. The firm has a market cap of $70.45 billion, a PE ratio of 24.29, a P/E/G ratio of 1.44 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the firm posted $6.90 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is presently 11.24%.

About McKesson

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.