GTS Securities LLC Reduces Position in McKesson Co. (NYSE:MCK)

GTS Securities LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 87.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 818 shares of the company’s stock after selling 5,903 shares during the period. GTS Securities LLC’s holdings in McKesson were worth $466,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Frank Rimerman Advisors LLC boosted its position in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares during the period. Hemington Wealth Management boosted its position in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the period. First Western Trust Bank boosted its position in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after buying an additional 18 shares during the period. Calamos Wealth Management LLC boosted its position in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after buying an additional 20 shares during the period. Finally, Quent Capital LLC boosted its position in shares of McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock valued at $671,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 1,248 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was 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 owns 2,621 shares of the company’s stock, valued at $1,880,043.30. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer now directly owns 14,760 shares of the company’s stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,127 shares of company stock valued at $5,834,498 in the last quarter. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.5%

McKesson stock opened at $719.86 on Wednesday. The business has a fifty day moving average of $691.98 and a two-hundred day moving average of $635.78. The firm has a market cap of $90.06 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given 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 dividend yield of 0.39%. McKesson’s payout ratio is 10.99%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a report on Thursday, April 3rd. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $686.69.

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.