Montag A & Associates Inc. Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Montag A & Associates Inc. reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,763 shares of the company’s stock after selling 119 shares during the quarter. Montag A & Associates Inc.’s holdings in McKesson were worth $2,717,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter valued at about $33,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on MCK shares. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Finally, Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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 has a fifty day simple moving average of $587.26 and a two-hundred day simple moving average of $562.76. The firm has a market cap 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 issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 1,346 shares of company stock valued at $795,275. Company insiders own 0.11% of the company’s stock.

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.