New Century Financial Group LLC Decreases Position in McKesson Co. (NYSE:MCK)

New Century Financial Group LLC decreased its stake in McKesson Co. (NYSE:MCK) by 67.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 466 shares of the company’s stock after selling 945 shares during the quarter. New Century Financial Group LLC’s holdings in McKesson were worth $269,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter valued at $29,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth about $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC boosted its position in shares of McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

NYSE:MCK opened at $591.47 on Friday. The firm has a fifty day simple moving average of $592.95 and a 200-day simple moving average of $561.48. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company has a market capitalization of $75.08 billion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $6.23 EPS. Equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s payout ratio is currently 14.71%.

Analyst Ratings Changes

Several research firms recently commented on MCK. Leerink Partners reduced their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

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.