Meritage Portfolio Management Sells 41 Shares of McKesson Co. (NYSE:MCK)

Meritage Portfolio Management lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 5.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 693 shares of the company’s stock after selling 41 shares during the period. Meritage Portfolio Management’s holdings in McKesson were worth $321,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bailard Inc. raised its stake in McKesson by 71.2% in the 4th quarter. Bailard Inc. now owns 2,599 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,081 shares during the period. BIP Wealth LLC raised its position in shares of McKesson by 71.2% in the fourth quarter. BIP Wealth LLC now owns 3,039 shares of the company’s stock valued at $1,407,000 after purchasing an additional 1,264 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of McKesson by 15.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,524 shares of the company’s stock worth $1,632,000 after buying an additional 481 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of McKesson by 11.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 7,288 shares of the company’s stock worth $3,378,000 after buying an additional 771 shares during the period. Finally, Wynn Capital LLC acquired a new position in McKesson in the 4th quarter valued at about $1,978,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays initiated coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Price Performance

McKesson stock opened at $543.37 on Friday. The business has a 50 day moving average of $528.15 and a 200-day moving average of $489.48. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81. The company has a market capitalization of $71.40 billion, a P/E ratio of 24.62, a P/E/G ratio of 1.43 and a beta of 0.45.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Buying and Selling

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

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.