Weatherly Asset Management L. P. Sells 293 Shares of McKesson Co. (NYSE:MCK)

Weatherly Asset Management L. P. decreased its stake in shares of McKesson Co. (NYSE:MCK) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,028 shares of the company’s stock after selling 293 shares during the period. Weatherly Asset Management L. P.’s holdings in McKesson were worth $3,258,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Legacy Financial Group LLC bought a new stake in McKesson in the 3rd quarter valued at about $27,000. OFI Invest Asset Management bought a new stake in McKesson in the 3rd quarter valued at about $26,000. BKM Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Avior Wealth Management LLC lifted its holdings in shares of McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Stock Performance

McKesson stock traded up $4.55 during mid-day trading on Tuesday, hitting $531.87. 490,759 shares of the company traded hands, compared to its average volume of 687,474. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The stock has a fifty day moving average price of $525.58 and a 200-day moving average price of $487.54.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period in the previous year, the business posted $6.90 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. SVB Leerink initiated coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.50.

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.