McKesson Co. (NYSE:MCK) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 8.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,039 shares of the company’s stock after selling 287 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in McKesson were worth $1,734,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Great Valley Advisor Group Inc. boosted its holdings in shares of McKesson by 6.9% during the fourth quarter. Great Valley Advisor Group Inc. now owns 11,222 shares of the company’s stock worth $6,395,000 after purchasing an additional 724 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of McKesson during the fourth quarter worth $346,000. Ascent Group LLC boosted its holdings in shares of McKesson by 2.0% during the fourth quarter. Ascent Group LLC now owns 2,972 shares of the company’s stock worth $1,694,000 after purchasing an additional 57 shares during the last quarter. Peak Retirement Planning Inc. acquired a new position in McKesson in the fourth quarter valued at $919,000. Finally, Toronto Dominion Bank boosted its holdings in McKesson by 23.5% in the fourth quarter. Toronto Dominion Bank now owns 55,311 shares of the company’s stock valued at $31,522,000 after acquiring an additional 10,532 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $715.44 on Tuesday. The business’s 50-day moving average is $690.91 and its two-hundred day moving average is $635.19. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The firm has a market capitalization of $89.51 billion, a PE ratio of 32.76, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period in the previous year, the company earned $6.18 earnings per share. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MCK shares. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a report on Friday, May 9th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 21st. Finally, Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now directly owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 1,248 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now directly owns 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,127 shares of company stock valued at $5,834,498. 0.11% of the stock is currently owned by insiders.

McKesson Company 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.