McKesson Co. (NYSE:MCK) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,288 shares of the company’s stock after selling 853 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in McKesson were worth $10,992,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new position in McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter valued at approximately $33,000. Atala Financial Inc acquired a new position in McKesson during the fourth quarter worth $34,000. Finally, Graney & King LLC purchased a new stake in McKesson during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

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 completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $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. In the last three months, insiders sold 18,689 shares of company stock worth $11,187,351. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.4 %

MCK stock opened at $668.25 on Friday. The company has a market cap of $83.75 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a 50-day moving average price of $623.58 and a two-hundred day moving average price of $578.83. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.00.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.