Private Wealth Partners LLC Sells 170 Shares of McKesson Co. (NYSE:MCK)

Private Wealth Partners LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 0.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,032 shares of the company’s stock after selling 170 shares during the quarter. McKesson makes up about 1.6% of Private Wealth Partners LLC’s portfolio, making the stock its 19th biggest holding. Private Wealth Partners LLC’s holdings in McKesson were worth $20,535,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC increased its holdings in shares of McKesson by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after purchasing an additional 226 shares during the last quarter. Eastern Bank acquired a new position in McKesson in the 3rd quarter valued at about $258,000. Waldron Private Wealth LLC grew its stake in McKesson by 45.3% in the 3rd quarter. Waldron Private Wealth LLC now owns 1,335 shares of the company’s stock valued at $661,000 after buying an additional 416 shares during the last quarter. Stanley Laman Group Ltd. raised its holdings in McKesson by 2.6% in the 3rd quarter. Stanley Laman Group Ltd. now owns 9,636 shares of the company’s stock valued at $4,764,000 after acquiring an additional 244 shares during the period. Finally, Lecap Asset Management Ltd. acquired a new stake in McKesson during the third quarter worth approximately $1,583,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

Shares of MCK opened at $602.41 on Thursday. The firm has a 50 day simple moving average of $588.11 and a two-hundred day simple moving average of $562.19. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market cap of $75.50 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is owned by insiders.

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.