Sard Wealth Management Group LLC Sells 15 Shares of McKesson Co. (NYSE:MCK)

Sard Wealth Management Group LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,891 shares of the company’s stock after selling 15 shares during the period. McKesson comprises 0.9% of Sard Wealth Management Group LLC’s investment portfolio, making the stock its 16th largest holding. Sard Wealth Management Group LLC’s holdings in McKesson were worth $1,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its holdings in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of McKesson during the fourth quarter worth about $1,200,361,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

McKesson stock opened at $712.99 on Friday. The stock has a market capitalization of $89.20 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The stock’s 50 day moving average price is $699.69 and its two-hundred day moving average price is $641.11.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 EPS. On average, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer now directly owns 14,760 shares of the company’s stock, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president now directly owns 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,747 shares of company stock valued at $9,852,587 over the last ninety days. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an “equal weight” rating in a report on Tuesday. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Finally, UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $692.46.

McKesson 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.