Pinnacle Wealth Management Advisory Group LLC Sells 31 Shares of McKesson Co. (NYSE:MCK)

Pinnacle Wealth Management Advisory Group LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 830 shares of the company’s stock after selling 31 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in McKesson were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MCK. WD Rutherford LLC lifted its stake in shares of McKesson by 6.1% in the fourth quarter. WD Rutherford LLC now owns 5,713 shares of the company’s stock valued at $3,256,000 after buying an additional 329 shares during the period. Hourglass Capital LLC increased its position in shares of McKesson by 0.6% during the fourth quarter. Hourglass Capital LLC now owns 5,452 shares of the company’s stock valued at $3,107,000 after purchasing an additional 30 shares during the period. Allworth Financial LP raised its stake in shares of McKesson by 25.4% in the fourth quarter. Allworth Financial LP now owns 3,628 shares of the company’s stock valued at $2,120,000 after purchasing an additional 734 shares in the last quarter. Principal Securities Inc. raised its stake in shares of McKesson by 10.9% in the fourth quarter. Principal Securities Inc. now owns 4,889 shares of the company’s stock valued at $2,786,000 after purchasing an additional 482 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its stake in McKesson by 1.6% during the fourth quarter. Everhart Financial Group Inc. now owns 1,397 shares of the company’s stock worth $796,000 after buying an additional 22 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. 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 report on Friday, December 13th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Performance

Shares of MCK opened at $593.82 on Monday. The firm 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 Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The business’s fifty day moving average price is $587.26 and its two-hundred day moving average price is $562.76.

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

McKesson Announces Dividend

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

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 1,346 shares of company stock valued at $795,275 over the last three months. Company insiders own 0.11% of the company’s stock.

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.