McKesson Co. (NYSE:MCK) Shares Sold by Zhang Financial LLC

Zhang Financial LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 27.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,081 shares of the company’s stock after selling 1,142 shares during the period. Zhang Financial LLC’s holdings in McKesson were worth $1,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Old North State Trust LLC lifted its stake in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Black Diamond Financial LLC boosted its stake in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after purchasing an additional 19 shares during the period. QV Investors Inc. grew its holdings in shares of McKesson by 0.6% in the third quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after purchasing an additional 20 shares in the last quarter. Finally, ASB Consultores LLC increased its stake in McKesson by 2.4% during the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company’s stock worth $435,000 after buying an additional 21 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several research reports. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

Shares of MCK opened at $592.69 on Monday. The firm has a fifty day moving average price of $595.11 and a 200 day moving average price of $561.17. The stock has a market cap of $75.24 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its 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. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm posted $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

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

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.