McKesson Co. (NYSE:MCK) Stock Position Lowered by Veracity Capital LLC

Veracity Capital LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 71.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 356 shares of the company’s stock after selling 884 shares during the period. Veracity Capital LLC’s holdings in McKesson were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MCK. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter valued at $29,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC increased its stake in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America lowered 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. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Stock Performance

McKesson stock opened at $591.47 on Friday. The business’s 50-day simple moving average is $592.95 and its 200-day simple moving average is $561.48. The firm has a market capitalization of $75.08 billion, a PE ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

McKesson 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.