McKesson Co. (NYSE:MCK) Shares Sold by Bey Douglas LLC

Bey Douglas LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,711 shares of the company’s stock after selling 18 shares during the period. McKesson comprises approximately 1.8% of Bey Douglas LLC’s holdings, making the stock its 19th biggest position. Bey Douglas LLC’s holdings in McKesson were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the third quarter worth $29,000. Crews Bank & Trust bought a new position in shares of McKesson in the 4th quarter worth about $33,000. Wolff Wiese Magana LLC boosted 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 valued at $29,000 after buying an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.3 %

Shares of NYSE:MCK opened at $602.73 on Friday. The company has a 50 day moving average of $587.56 and a 200-day moving average of $562.90. The firm has a market cap of $76.51 billion, a P/E ratio of 27.60, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts forecast that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,346 shares of company stock valued at $795,275 over the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $645.79.

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.