Good Life Advisors LLC Sells 308 Shares of McKesson Co. (NYSE:MCK)

Good Life Advisors LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 28.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 756 shares of the company’s stock after selling 308 shares during the period. Good Life Advisors LLC’s holdings in McKesson were worth $431,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in MCK. Sequoia Financial Advisors LLC lifted its stake in McKesson by 3.5% in the third quarter. Sequoia Financial Advisors LLC now owns 6,594 shares of the company’s stock valued at $3,260,000 after buying an additional 226 shares during the period. Eastern Bank bought a new stake in shares of McKesson in the 3rd quarter valued at about $258,000. Lecap Asset Management Ltd. acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $1,583,000. Commerzbank Aktiengesellschaft FI boosted its stake in McKesson by 50.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock worth $311,000 after acquiring an additional 209 shares during the last quarter. Finally, Courier Capital LLC grew its holdings in McKesson by 10.3% during the third quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.2 %

Shares of MCK stock opened at $603.68 on Friday. The firm has a market cap of $75.66 billion, a PE ratio of 27.64, a P/E/G ratio of 1.28 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The company’s fifty day simple moving average is $588.60 and its 200-day simple moving average is $562.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 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%. On average, equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several analyst reports. Bank of America cut their target price 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. Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. 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. Finally, Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $645.79.

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.