SeaCrest Wealth Management LLC Has $1.39 Million Stake in McKesson Co. (NYSE:MCK)

SeaCrest Wealth Management LLC reduced its holdings in McKesson Co. (NYSE:MCK) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,432 shares of the company’s stock after selling 38 shares during the period. SeaCrest Wealth Management LLC’s holdings in McKesson were worth $1,386,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the third quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC grew its position in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MCK shares. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird upgraded shares of 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 report on Thursday, November 7th. Finally, Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

McKesson Price Performance

Shares of McKesson stock opened at $583.51 on Thursday. The firm has a market cap of $74.07 billion, a PE ratio of 30.22, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a 50 day simple moving average of $595.09 and a two-hundred day simple moving average of $560.90.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

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.