Philip James Wealth Mangement LLC Sells 25 Shares of McKesson Co. (NYSE:MCK)

Philip James Wealth Mangement LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 628 shares of the company’s stock after selling 25 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in McKesson were worth $358,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCK. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 1,346 shares of company stock worth $795,275 in the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $593.82 on Monday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The stock has a fifty day moving average of $587.26 and a 200-day moving average of $562.76.

McKesson (NYSE:MCK) last posted its quarterly earnings results 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%. On average, research analysts forecast that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Dividend Announcement

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 given 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 yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

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.