McKesson Co. (NYSE:MCK) Shares Sold by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,161 shares of the company’s stock after selling 58 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in McKesson were worth $538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Brown Advisory Inc. increased its position in shares of McKesson by 5.8% during the 3rd quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock valued at $1,768,000 after purchasing an additional 222 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in McKesson by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock worth $15,188,000 after acquiring an additional 2,214 shares during the period. NBT Bank N A NY bought a new stake in McKesson in the third quarter worth about $312,000. Park Avenue Securities LLC acquired a new stake in McKesson in the 3rd quarter valued at about $1,912,000. Finally, Catalyst Financial Partners LLC boosted its position in shares of McKesson by 7.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 776 shares of the company’s stock valued at $337,000 after purchasing an additional 53 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.5 %

MCK stock traded down $2.53 during midday trading on Wednesday, reaching $543.22. The company had a trading volume of 1,378,614 shares, compared to its average volume of 713,234. The company has a 50 day moving average of $531.17 and a two-hundred day moving average of $493.81. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01. The company has a market capitalization of $71.38 billion, a P/E ratio of 24.61, a PEG ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same period last year, the business earned $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is currently 11.24%.

Insider Activity at McKesson

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Evercore ISI increased their target price on shares of McKesson from $590.00 to $600.00 and gave the company an “outperform” rating in a research note on Wednesday. Citigroup raised their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Robert W. Baird increased their price target on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, SVB Leerink assumed coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $569.86.

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.