Resonant Capital Advisors LLC Sells 535 Shares of McKesson Co. (NYSE:MCK)

Resonant Capital Advisors LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,437 shares of the company’s stock after selling 535 shares during the quarter. Resonant Capital Advisors LLC’s holdings in McKesson were worth $3,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Covestor Ltd increased its holdings in McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. OFI Invest Asset Management purchased a new position in McKesson in the third quarter worth about $26,000. Legacy Financial Group LLC purchased a new position in McKesson in the third quarter worth about $27,000. Live Oak Investment Partners purchased a new position in McKesson in the fourth quarter worth about $30,000. Finally, BKM Wealth Management LLC purchased a new position in McKesson in the fourth quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MCK shares. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays began coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Citigroup lifted their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Up 1.2 %

NYSE MCK traded up $6.10 during trading hours on Friday, reaching $524.91. The company’s stock had a trading volume of 391,117 shares, compared to its average volume of 685,243. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The firm’s 50-day moving average price is $524.44 and its 200-day moving average price is $485.71. The company has a market capitalization of $68.98 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

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.