Westwood Holdings Group Inc. Sells 576 Shares of McKesson Co. (NYSE:MCK)

Westwood Holdings Group Inc. lowered its stake in McKesson Co. (NYSE:MCK) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,375 shares of the company’s stock after selling 576 shares during the quarter. Westwood Holdings Group Inc.’s holdings in McKesson were worth $1,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC lifted its holdings in shares of McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after acquiring an additional 17 shares during the last quarter. Hemington Wealth Management lifted its holdings in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the last quarter. First Western Trust Bank lifted its holdings in shares of McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares during the last quarter. Calamos Wealth Management LLC lifted its holdings in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after acquiring an additional 20 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in shares of McKesson by 1.7% in the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock worth $671,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on MCK. Morgan Stanley increased their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Performance

NYSE:MCK opened at $719.07 on Wednesday. The company has a market capitalization of $89.96 billion, a PE ratio of 32.92, a P/E/G ratio of 1.29 and a beta of 0.53. The company has a 50 day simple moving average of $686.37 and a two-hundred day simple moving average of $630.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.18 EPS. Research analysts predict 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. Shareholders 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 yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

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.