Proficio Capital Partners LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Proficio Capital Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, Holdings Channel.com reports. The firm purchased 549 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors have also modified their holdings of the business. Old North State Trust LLC grew its holdings in shares of McKesson by 1.6% during the third 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. Trust Co. of Vermont grew its stake in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management grew its stake in McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the last quarter. Calamos Wealth Management LLC increased its position in McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the period. Finally, Quent Capital LLC lifted its stake in McKesson by 1.7% in the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock valued at $671,000 after buying an additional 20 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $662.71 on Wednesday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The business’s fifty day moving average is $619.05 and its 200-day moving average is $576.50. The stock has a market cap of $83.05 billion, a PE ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. Corporate insiders own 0.11% of the company’s stock.

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.