FourThought Financial Partners LLC Sells 23 Shares of McKesson Co. (NYSE:MCK)

FourThought Financial Partners LLC lowered its position in McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,937 shares of the company’s stock after selling 23 shares during the quarter. FourThought Financial Partners LLC’s holdings in McKesson were worth $897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Intrust Bank NA bought a new stake in McKesson in the 4th quarter valued at $206,000. Raymond James & Associates raised its position in McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock worth $70,919,000 after purchasing an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the period. Heritage Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $1,813,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Citigroup upped their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. UBS Group lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $536.71.

McKesson Stock Performance

MCK traded down $1.41 during mid-day trading on Friday, reaching $528.86. The stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. The stock has a market capitalization of $69.50 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81. The firm’s fifty day simple moving average is $530.38 and its two-hundred day simple moving average is $492.60.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period last year, the company earned $6.90 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

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.