ICA Group Wealth Management LLC Sells 274 Shares of McKesson Co. (NYSE:MCK)

ICA Group Wealth Management LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 73.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100 shares of the company’s stock after selling 274 shares during the period. ICA Group Wealth Management LLC’s holdings in McKesson were worth $58,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Councilmark Asset Management LLC bought a new position in McKesson during the first quarter valued at about $5,160,000. Vaughan David Investments LLC IL bought a new position in McKesson during the second quarter valued at about $238,000. Treasurer of the State of North Carolina raised its holdings in McKesson by 6.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after buying an additional 3,982 shares in the last quarter. BDF Gestion bought a new position in McKesson during the second quarter valued at about $3,504,000. Finally, Bornite Capital Management LP bought a new position in shares of McKesson in the fourth quarter worth about $34,724,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 in the last three months. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.5 %

NYSE MCK opened at $518.81 on Monday. The stock’s 50 day moving average is $567.33 and its two-hundred day moving average is $557.76. The company has a market capitalization of $67.28 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $417.65 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $7.27 earnings per share. On average, analysts predict that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. McKesson’s dividend payout ratio is 12.69%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. Leerink Partners dropped their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Bank of America lifted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Citigroup dropped their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Wells Fargo & Company dropped their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Barclays lifted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $620.93.

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.