Heritage Family Offices LLP Has $985,000 Position in McKesson Co. (NYSE:MCK)

Heritage Family Offices LLP decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 42.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,729 shares of the company’s stock after selling 1,283 shares during the period. Heritage Family Offices LLP’s holdings in McKesson were worth $985,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MCK. Wolff Wiese Magana LLC raised its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC grew its holdings in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of MCK opened at $583.51 on Thursday. The firm has a market cap of $74.07 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The business has a 50-day moving average of $595.09 and a 200 day moving average of $560.90.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.23 EPS. As a group, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $646.14.

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.