Heritage Wealth Advisors Decreases Stock Holdings in McKesson Corporation $MCK

Heritage Wealth Advisors lessened its holdings in McKesson Corporation (NYSE:MCK) by 28.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 518 shares of the company’s stock after selling 201 shares during the quarter. Heritage Wealth Advisors’ holdings in McKesson were worth $380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MCK. Solstein Capital LLC boosted its holdings in shares of McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the period. GFG Capital LLC bought a new position in shares of McKesson during the 2nd quarter valued at approximately $30,000. Saudi Central Bank purchased a new stake in shares of McKesson during the 1st quarter worth approximately $34,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $39,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several research reports. Robert W. Baird increased their price objective on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Mizuho upped their price target on McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Morgan Stanley increased their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Finally, Zacks Research raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $887.69.

McKesson Stock Up 0.7%

MCK stock opened at $861.33 on Wednesday. The stock has a 50-day simple moving average of $779.78 and a two-hundred day simple moving average of $731.82. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $867.63. The firm has a market capitalization of $106.31 billion, a PE ratio of 34.34, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $7.07 earnings per share. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is 10.21%.

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.