GPS Wealth Strategies Group LLC Trims Holdings in McKesson Co. (NYSE:MCK)

GPS Wealth Strategies Group LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 612 shares of the company’s stock after selling 44 shares during the period. GPS Wealth Strategies Group LLC’s holdings in McKesson were worth $412,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Capital A Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter worth $28,000. Atala Financial Inc purchased a new stake in shares of McKesson in the fourth quarter worth $34,000. Graney & King LLC bought a new position in shares of McKesson during the fourth quarter valued at $38,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson in the 4th quarter worth about $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 1.8%

Shares of NYSE MCK opened at $730.39 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.18. The firm has a market capitalization of $91.38 billion, a price-to-earnings ratio of 33.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The firm has a 50 day moving average of $701.80 and a 200 day moving average of $643.67.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the previous year, the firm posted $6.18 EPS. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s payout ratio is currently 10.99%.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 510 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares in the company, valued at $3,901,840.85. The trade was a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an “overweight” rating in a research report on Wednesday. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $694.38.

About McKesson

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.