J.W. Cole Advisors Inc. Sells 82 Shares of McKesson Co. (NYSE:MCK)

J.W. Cole Advisors Inc. reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 8.9% during the fourth quarter, Holdings Channel reports. The fund owned 839 shares of the company’s stock after selling 82 shares during the period. J.W. Cole Advisors Inc.’s holdings in McKesson were worth $478,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Sequoia Financial Advisors LLC grew its position in McKesson by 3.5% during the third quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after acquiring an additional 226 shares during the last quarter. Eastern Bank bought a new position in McKesson during the third quarter valued at approximately $258,000. Waldron Private Wealth LLC grew its position in McKesson by 45.3% during the third quarter. Waldron Private Wealth LLC now owns 1,335 shares of the company’s stock valued at $661,000 after acquiring an additional 416 shares during the last quarter. Stanley Laman Group Ltd. grew its position in McKesson by 2.6% during the third quarter. Stanley Laman Group Ltd. now owns 9,636 shares of the company’s stock valued at $4,764,000 after acquiring an additional 244 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in McKesson during the third quarter valued at approximately $1,583,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

NYSE:MCK opened at $602.41 on Thursday. The stock has a market cap of $75.50 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. The firm’s fifty day simple moving average is $588.11 and its 200 day simple moving average is $562.19. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MCK shares. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson 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 transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by company insiders.

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.