Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $223,000 Position in McKesson Co. (NYSE:MCK)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors reduced its holdings in McKesson Co. (NYSE:MCK) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 391 shares of the company’s stock after selling 20 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in McKesson were worth $223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth about $32,000. Crews Bank & Trust bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the 4th quarter valued at about $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.5 %

McKesson stock opened at $644.92 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $653.92. The stock’s 50 day moving average is $600.67 and its 200-day moving average is $567.49. The company has a market capitalization of $80.82 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,268 shares of company stock worth $11,536,378. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.