Axxcess Wealth Management LLC Sells 1,664 Shares of McKesson Co. (NYSE:MCK)

Axxcess Wealth Management LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 69.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 746 shares of the company’s stock after selling 1,664 shares during the quarter. Axxcess Wealth Management LLC’s holdings in McKesson were worth $346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Massachusetts Financial Services Co. MA boosted its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley boosted its stake in McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Northern Trust Corp boosted its stake in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares during the period. Boston Partners boosted its stake in McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the period. Finally, WCM Investment Management LLC boosted its stake in McKesson by 0.4% in the 4th quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after purchasing an additional 4,636 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.5 %

NYSE MCK opened at $543.22 on Thursday. The business’s 50-day moving average price is $531.17 and its two-hundred day moving average price is $493.81. McKesson Co. has a 12 month low of $373.28 and a 12 month high of $566.01. The firm has a market capitalization of $71.38 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.19 EPS. As a group, analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group upped their target price on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday. Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Citigroup upped their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Evercore ISI boosted their price target on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $569.86.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% 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.