Braun Stacey Associates Inc. Has $22.09 Million Stake in McKesson Co. (NYSE:MCK)

Braun Stacey Associates Inc. lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,755 shares of the company’s stock after selling 7,696 shares during the period. Braun Stacey Associates Inc.’s holdings in McKesson were worth $22,087,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter valued at approximately $29,000. Crews Bank & Trust purchased a new position in shares of McKesson during the 4th quarter valued at about $33,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC raised its stake 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 acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MCK. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup reduced 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. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Trading Down 1.4 %

NYSE MCK opened at $593.82 on Tuesday. The company has a market cap of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. The stock’s 50-day moving average price is $587.26 and its two-hundred day moving average price is $562.38. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly 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 net margin of 0.82% and a negative return on equity of 181.26%. Research analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value 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. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 1,346 shares of company stock valued at $795,275 over the last three months. 0.11% of the stock is currently owned by corporate insiders.

About McKesson

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.