Beacon Financial Group Reduces Stake in McKesson Co. (NYSE:MCK)

Beacon Financial Group lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,791 shares of the company’s stock after selling 84 shares during the period. Beacon Financial Group’s holdings in McKesson were worth $3,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Cibc World Market Inc. lifted its position in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares during the last quarter. Commerce Bank raised its stake in McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after acquiring an additional 3,020 shares in the last quarter. West Oak Capital LLC lifted its position in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Brentview Investment Management LLC acquired a new position in McKesson in the fourth quarter valued at $3,018,000. Finally, Nordea Investment Management AB grew its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

McKesson stock opened at $610.57 on Wednesday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market cap of $77.51 billion, a P/E ratio of 27.96, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The business has a fifty day moving average of $588.04 and a two-hundred day moving average of $562.60.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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%. Sell-side analysts predict that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The company 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 dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. 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 presently has an average rating of “Buy” and a consensus target price of $645.79.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.