Legacy Capital Wealth Partners LLC Has $409,000 Stake in McKesson Co. (NYSE:MCK)

Legacy Capital Wealth Partners LLC trimmed its holdings in McKesson Co. (NYSE:MCK) by 44.1% in the fourth quarter, Holdings Channel reports. The fund owned 718 shares of the company’s stock after selling 567 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in McKesson were worth $409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in shares of McKesson by 2.1% in the third quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of McKesson by 7.8% in the third quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock valued at $185,000 after purchasing an additional 27 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of McKesson by 27.0% in the third quarter. V Square Quantitative Management LLC now owns 1,129 shares of the company’s stock valued at $558,000 after purchasing an additional 240 shares in the last quarter. Stratos Wealth Advisors LLC lifted its holdings in shares of McKesson by 10.4% in the third quarter. Stratos Wealth Advisors LLC now owns 1,033 shares of the company’s stock valued at $511,000 after purchasing an additional 97 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its holdings in shares of McKesson by 5.4% in the third quarter. First Citizens Bank & Trust Co. now owns 1,841 shares of the company’s stock valued at $910,000 after purchasing an additional 95 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MCK. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred 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 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 SEC, which is available through the SEC website. Insiders have sold 1,346 shares of company stock valued at $795,275 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 1.4 %

McKesson stock opened at $593.82 on Monday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The stock’s 50 day moving average is $587.26 and its 200-day moving average is $562.76. The company has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52.

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

McKesson Announces Dividend

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

McKesson 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.