RFG Advisory LLC Sells 273 Shares of McKesson Co. (NYSE:MCK)

RFG Advisory LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 12.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,917 shares of the company’s stock after selling 273 shares during the period. RFG Advisory LLC’s holdings in McKesson were worth $1,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Capital A Wealth Management LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $28,000. Atala Financial Inc bought a new stake in shares of McKesson during the fourth quarter valued at approximately $34,000. Graney & King LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $38,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $44,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $710.66 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The firm has a fifty day moving average price of $698.91 and a 200-day moving average price of $640.44. The company has a market cap of $88.91 billion, a price-to-earnings ratio of 32.54, a PEG ratio of 1.29 and a beta of 0.53.

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. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 510 shares of McKesson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the transaction, the executive vice president now owns 5,435 shares in the company, valued at approximately $3,901,840.85. The trade was a 8.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the transaction, the executive vice president now owns 2,800 shares in the company, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,747 shares of company stock valued at $9,852,587 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. Bank of America raised their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley raised 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. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $692.46.

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.