SVB Wealth LLC Trims Holdings in McKesson Co. (NYSE:MCK)

SVB Wealth LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,263 shares of the company’s stock after selling 76 shares during the period. SVB Wealth LLC’s holdings in McKesson were worth $1,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. Keystone Financial Services increased its stake in McKesson by 2.1% during the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after buying an additional 24 shares during the period. Koshinski Asset Management Inc. lifted its stake in shares of McKesson by 1.1% in the third quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares in the last quarter. Austin Private Wealth LLC lifted its stake in shares of McKesson by 2.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after acquiring an additional 27 shares in the last quarter. Quent Capital LLC boosted its holdings in McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after purchasing an additional 27 shares during the last quarter. Finally, Kanawha Capital Management LLC grew its stake in McKesson by 4.7% during the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after purchasing an additional 27 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MCK. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Citigroup raised their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Barclays assumed coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Mizuho lifted 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. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Leann B. Smith sold 186 shares of the business’s 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 sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’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 transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.5 %

MCK stock opened at $525.92 on Thursday. The stock has a market cap of $69.11 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. The firm’s 50-day simple moving average is $523.95 and its 200 day simple moving average is $485.48. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. 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.