Strategic Global Advisors LLC Trims Stock Position in McKesson Co. (NYSE:MCK)

Strategic Global Advisors LLC lowered its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 74.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,709 shares of the company’s stock after selling 13,770 shares during the quarter. Strategic Global Advisors LLC’s holdings in McKesson were worth $2,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sachetta LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $31,000. Carolinas Wealth Consulting LLC grew its stake in shares of McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the period. WASHINGTON TRUST Co grew its stake in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Finally, Private Wealth Management Group LLC bought a new position in shares of McKesson during the 4th quarter valued at approximately $60,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 704 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $392,895.36. Following the sale, the executive vice president now directly owns 2,215 shares in the company, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold a total of 28,204 shares of company stock worth $15,699,113 over the last quarter. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MCK shares. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. TD Cowen upped their price target on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, Barclays upped their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

Read Our Latest Research Report on McKesson

McKesson Trading Up 0.5 %

NYSE:MCK traded up $2.74 during midday trading on Monday, hitting $589.64. 215,883 shares of the company traded hands, compared to its average volume of 710,857. The firm’s fifty day moving average is $545.73 and its 200-day moving average is $511.14. McKesson Co. has a 12-month low of $389.48 and a 12-month high of $591.80. The firm has a market capitalization of $76.65 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.37 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. McKesson’s payout ratio is 11.08%.

About McKesson

(Free Report)

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.

See Also

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCKFree Report).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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