RMR Wealth Builders Trims Stock Holdings in McKesson Co. (NYSE:MCK)

RMR Wealth Builders reduced its stake in McKesson Co. (NYSE:MCK) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 445 shares of the company’s stock after selling 26 shares during the quarter. RMR Wealth Builders’ holdings in McKesson were worth $253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Distillate Capital Partners LLC lifted its position in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp lifted its position in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Commerce Bank increased its stake in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MCK. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

MCK stock opened at $581.73 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market cap of $73.84 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The stock has a 50-day simple moving average of $592.54 and a 200-day simple moving average of $561.46.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm earned $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

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.