FourThought Financial Partners LLC Sells 23 Shares of McKesson Co. (NYSE:MCK)

FourThought Financial Partners LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,937 shares of the company’s stock after selling 23 shares during the period. FourThought Financial Partners LLC’s holdings in McKesson were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MCK. Vestmark Advisory Solutions Inc. acquired a new stake in shares of McKesson in the 4th quarter valued at $568,000. Sapient Capital LLC bought a new stake in shares of McKesson during the 4th quarter worth $276,000. U.S. Capital Wealth Advisors LLC boosted its stake in McKesson by 46.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 2,581 shares of the company’s stock valued at $1,195,000 after buying an additional 824 shares in the last quarter. Merit Financial Group LLC grew its position in McKesson by 12.8% in the fourth quarter. Merit Financial Group LLC now owns 3,572 shares of the company’s stock valued at $1,654,000 after acquiring an additional 404 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in McKesson by 3.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,194 shares of the company’s stock worth $1,015,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

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

McKesson Price Performance

Shares of McKesson stock traded down $1.41 during midday trading on Friday, reaching $528.86. The company had a trading volume of 866,981 shares, compared to its average volume of 626,262. The firm has a market cap of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. The stock has a fifty day moving average price of $530.38 and a 200 day moving average price of $492.60. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $544.81.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company earned $6.90 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MCK shares. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Argus upped their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.71.

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.