Perfromance Wealth Partners LLC Cuts Position in McKesson Co. (NYSE:MCK)

Perfromance Wealth Partners LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 16.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,563 shares of the company’s stock after selling 303 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in McKesson were worth $891,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK opened at $585.51 on Wednesday. The stock has a market capitalization of $74.32 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The business has a 50-day moving average of $594.65 and a two-hundred day moving average of $561.08. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.23 EPS. Equities research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average 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.