JT Stratford LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

JT Stratford LLC reduced its position in McKesson Co. (NYSE:MCK) by 68.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 565 shares of the company’s stock after selling 1,230 shares during the quarter. JT Stratford LLC’s holdings in McKesson were worth $322,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cibc World Market Inc. grew its position in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares during the last quarter. Brentview Investment Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC grew its holdings in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in McKesson by 6.4% in the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company’s stock worth $4,462,000 after purchasing an additional 468 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 1.2%

Shares of MCK opened at $710.30 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The firm’s 50-day moving average price is $688.81 and its 200-day moving average price is $632.39. The firm has a market capitalization of $88.87 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period last year, the business posted $6.18 earnings per share. McKesson’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson’s dividend payout ratio (DPR) is 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MCK shares. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $686.69.

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.