Fiduciary Group LLC Cuts Holdings in McKesson Co. (NYSE:MCK)

Fiduciary Group LLC cut its position in shares of McKesson Co. (NYSE:MCK) by 7.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,081 shares of the company’s stock after selling 160 shares during the quarter. Fiduciary Group LLC’s holdings in McKesson were worth $281,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Reilly Financial Advisors LLC raised its position in McKesson by 198.5% in the first quarter. Reilly Financial Advisors LLC now owns 200 shares of the company’s stock worth $27,000 after acquiring an additional 133 shares during the period. Trust Co. of Vermont raised its position in shares of McKesson by 254.2% in the first quarter. Trust Co. of Vermont now owns 209 shares of the company’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Penserra Capital Management LLC raised its position in shares of McKesson by 55.6% in the fourth quarter. Penserra Capital Management LLC now owns 210 shares of the company’s stock valued at $30,000 after purchasing an additional 75 shares during the period. Keebeck Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $29,000. Finally, Fred Alger Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.96% of the company’s stock.

Shares of McKesson stock traded up $3.60 during trading on Friday, reaching $149.42. The company’s stock had a trading volume of 902,930 shares, compared to its average volume of 1,730,228. McKesson Co. has a 52-week low of $112.60 and a 52-week high of $172.18. The company has a market cap of $25.80 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 1.60 and a beta of 0.82. The firm’s 50-day moving average is $136.14 and its two-hundred day moving average is $142.81. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 1.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, May 20th. The company reported $4.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.10 by $0.17. McKesson had a net margin of 0.39% and a return on equity of 41.07%. The company had revenue of $58.54 billion during the quarter, compared to analysts’ expectations of $55.60 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that McKesson Co. will post 15.01 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.10%. McKesson’s dividend payout ratio is currently 10.97%.

Several analysts have recently issued reports on MCK shares. Cowen boosted their price target on shares of McKesson from $174.00 to $186.00 and gave the company an “outperform” rating in a research report on Thursday. Guggenheim raised shares of McKesson from a “neutral” rating to a “buy” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $186.00 to $187.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Morgan Stanley boosted their price target on shares of McKesson from $150.00 to $163.00 and gave the company an “overweight” rating in a research report on Friday. Finally, ValuEngine lowered shares of McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $168.50.

In related news, CEO Brian S. Tyler sold 4,063 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $135.00, for a total transaction of $548,505.00. Following the completion of the sale, the chief executive officer now directly owns 16,255 shares in the company, valued at approximately $2,194,425. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 8,187 shares of company stock valued at $1,064,057 over the last quarter. 0.88% of the stock is currently owned by company insiders.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

Further Reading: Short Selling

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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