RMR Wealth Builders Sells 216 Shares of McKesson Co. (NYSE:MCK)

RMR Wealth Builders cut its holdings in McKesson Co. (NYSE:MCK) by 32.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 441 shares of the company’s stock after selling 216 shares during the period. RMR Wealth Builders’ holdings in McKesson were worth $204,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley grew its holdings in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its holdings in McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after purchasing an additional 272,266 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in McKesson by 5,683.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after purchasing an additional 221,125 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MCK shares. Citigroup increased their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, TD Cowen increased their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $569.86.

McKesson Price Performance

NYSE MCK traded down $2.53 during trading hours on Wednesday, reaching $543.22. 1,378,614 shares of the stock traded hands, compared to its average volume of 713,234. The stock has a 50 day simple moving average of $531.17 and a two-hundred day simple 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 cap of $71.38 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released 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 net margin of 0.99% and a negative return on equity of 262.63%. The firm 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 business earned $7.19 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given 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 yield of 0.46%. McKesson’s payout ratio is 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.