Zhang Financial LLC Cuts Position in McKesson Co. (NYSE:MCK)

Zhang Financial LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 27.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,081 shares of the company’s stock after selling 1,142 shares during the period. Zhang Financial LLC’s holdings in McKesson were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Distillate Capital Partners LLC grew its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp grew its holdings in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after buying an additional 1,393 shares in the last quarter. Commerce Bank raised its stake in shares of McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after buying an additional 3,020 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of McKesson in the 2nd quarter worth about $12,331,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCK. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two investment 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 stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of MCK opened at $592.69 on Monday. The firm has a market cap of $75.24 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. The company’s fifty day moving average is $595.11 and its two-hundred day moving average is $561.17. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $6.23 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

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.