Legacy Capital Wealth Partners LLC Sells 62 Shares of McKesson Co. (NYSE:MCK)

Legacy Capital Wealth Partners LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 9.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 566 shares of the company’s stock after selling 62 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in McKesson were worth $262,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC boosted its stake in McKesson by 2.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,757 shares of the company’s stock valued at $764,000 after acquiring an additional 43 shares during the last quarter. Valeo Financial Advisors LLC increased its position in McKesson by 6.8% in the third quarter. Valeo Financial Advisors LLC now owns 1,198 shares of the company’s stock worth $521,000 after buying an additional 76 shares during the last quarter. PDS Planning Inc raised its stake in shares of McKesson by 3.5% in the third quarter. PDS Planning Inc now owns 865 shares of the company’s stock valued at $376,000 after buying an additional 29 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of McKesson by 2.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 61,484 shares of the company’s stock valued at $26,737,000 after buying an additional 1,268 shares during the last quarter. Finally, RMR Wealth Builders bought a new position in shares of McKesson during the 3rd quarter worth $286,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Down 1.3 %

Shares of MCK opened at $536.09 on Tuesday. The stock has a 50-day moving average price of $528.65 and a 200-day moving average price of $490.49. The company has a market cap of $70.45 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81.

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

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the 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 completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the chief executive officer now directly owns 43,445 shares in the company, 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.