McKesson Co. (NYSE:MCK) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 18.0% during the 4th quarter, HoldingsChannel reports. The firm owned 47,175 shares of the company’s stock after selling 10,385 shares during the quarter. Wedge Capital Management L L P NC’s holdings in McKesson were worth $26,886,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth $29,000. Wolff Wiese Magana LLC raised its holdings 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 acquiring an additional 52 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC increased its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $592.69 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a 50 day moving average price of $595.51 and a 200 day moving average price of $561.29. The stock has a market capitalization of $75.24 billion, a P/E ratio of 30.69, a price-to-earnings-growth 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 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.23 earnings per share. On average, research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target 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. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on 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 directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

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.