Empirical Finance LLC Sells 64 Shares of McKesson Co. (NYSE:MCK)

Empirical Finance LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,714 shares of the company’s stock after selling 64 shares during the quarter. Empirical Finance LLC’s holdings in McKesson were worth $2,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% in 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 position in McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $32,000. Finally, Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $595.77 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market capitalization of $75.63 billion, a P/E ratio of 27.28, a PEG ratio of 1.30 and a beta of 0.52. The stock has a 50-day simple moving average of $588.40 and a 200-day simple moving average of $562.90.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts forecast that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MCK shares. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

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.