Richard W. Paul & Associates LLC Sells 77 Shares of McKesson Co. (NYSE:MCK)

Richard W. Paul & Associates LLC cut its stake in McKesson Co. (NYSE:MCK) by 8.8% in the fourth quarter, HoldingsChannel reports. The fund owned 798 shares of the company’s stock after selling 77 shares during the period. Richard W. Paul & Associates LLC’s holdings in McKesson were worth $455,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCK. Synergy Asset Management LLC bought a new position in McKesson in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter valued at about $29,000. Crews Bank & Trust bought a new position in shares of McKesson in the 4th quarter valued at about $33,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on MCK. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Up 3.2 %

Shares of MCK stock opened at $640.82 on Friday. The company has a market capitalization of $80.31 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $641.70. The firm has a fifty day moving average of $594.13 and a 200-day moving average of $564.09.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock valued at $11,536,378 in the last quarter. 0.11% of the stock is currently owned by insiders.

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.