Heritage Family Offices LLP Sells 1,283 Shares of McKesson Co. (NYSE:MCK)

Heritage Family Offices LLP trimmed its position in McKesson Co. (NYSE:MCK) by 42.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,729 shares of the company’s stock after selling 1,283 shares during the quarter. Heritage Family Offices LLP’s holdings in McKesson were worth $985,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MCK. Old North State Trust LLC increased its stake in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after purchasing an additional 18 shares during the last quarter. Black Diamond Financial LLC boosted its stake in McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after buying an additional 19 shares in the last quarter. QV Investors Inc. grew its position in McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after acquiring an additional 20 shares during the last quarter. ASB Consultores LLC raised its stake in McKesson by 2.4% during the third quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after acquiring an additional 21 shares in the last quarter. Finally, Old Port Advisors lifted its holdings in shares of McKesson by 1.3% in the third quarter. Old Port Advisors now owns 1,742 shares of the company’s stock worth $861,000 after acquiring an additional 22 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 1.7 %

Shares of NYSE MCK opened at $583.51 on Thursday. The company has a market capitalization of $74.07 billion, a PE ratio of 30.22, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm has a fifty day simple moving average of $595.09 and a 200 day simple moving average of $560.90.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the company posted $6.23 EPS. The business’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, 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 filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCK shares. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Bank of America dropped 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. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $646.14.

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.