McKesson Co. (NYSE:MCK) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC cut its holdings in McKesson Co. (NYSE:MCK) by 10.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 463 shares of the company’s stock after selling 56 shares during the period. GC Wealth Management RIA LLC’s holdings in McKesson were worth $264,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the 4th quarter valued at about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK stock opened at $653.54 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $663.61. The company’s 50 day simple moving average is $604.12 and its 200-day simple moving average is $568.96. The firm has a market capitalization of $81.91 billion, a P/E ratio of 29.92, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. Sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MCK. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Evercore ISI upped 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. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last 90 days. 0.11% of the stock is owned by company insiders.

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.