Courier Capital LLC Sells 100 Shares of McKesson Co. (NYSE:MCK)

by · The Markets Daily

Courier Capital LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK – Free Report) by 9.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 975 shares of the company’s stock after selling 100 shares during the quarter. Courier Capital LLC’s holdings in McKesson were worth $556,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MCK. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter worth $31,000. ORG Wealth Partners LLC bought a new position in McKesson during the 3rd quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of McKesson by 51.9% in the 4th 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 during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $646.14.

Check Out Our Latest Research Report on McKesson

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

McKesson stock opened at $584.62 on Tuesday. The stock has a 50-day simple moving average of $593.71 and a 200 day simple moving average of $560.83. The stock has a market capitalization of $74.21 billion, a P/E ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the firm earned $6.23 EPS. The firm’s revenue was up 21.3% compared to the same quarter last year. Research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

McKesson Profile

(Free Report)

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.

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