McKesson Co. (NYSE:MCK) Shares Sold by J. W. Coons Advisors LLC

J. W. Coons Advisors LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 8.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,570 shares of the company’s stock after selling 150 shares during the quarter. J. W. Coons Advisors LLC’s holdings in McKesson were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson during the 4th quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’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 owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock valued at $6,177,790 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MCK shares. Morgan Stanley lifted their target price on 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 lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock 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 report on Thursday, November 7th. Finally, Evercore ISI boosted 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. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Trading Down 1.0 %

Shares of MCK opened at $597.68 on Monday. The firm’s 50-day moving average is $589.02 and its two-hundred day moving average is $561.62. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm has a market capitalization of $74.91 billion, a P/E ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results 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%. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given 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 0.48%. McKesson’s payout ratio is currently 13.00%.

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.