Greater Midwest Financial Group LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Greater Midwest Financial Group LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,482 shares of the company’s stock after selling 72 shares during the quarter. Greater Midwest Financial Group LLC’s holdings in McKesson were worth $845,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Chase Investment Counsel Corp grew its stake in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after buying an additional 1,393 shares during the period. Commerce Bank raised its holdings in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after acquiring an additional 3,020 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in McKesson in the second quarter worth approximately $12,331,000. Finally, West Oak Capital LLC grew its holdings in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related 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 directly owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by insiders.

McKesson Trading Up 2.2 %

NYSE:MCK opened at $597.31 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock’s 50 day simple moving average is $593.20 and its 200-day simple moving average is $561.23. The firm has a market cap of $75.82 billion, a P/E ratio of 30.93, a PEG ratio of 1.26 and a beta of 0.52.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued 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 presently 14.71%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

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.