McKesson Co. (NYSE:MCK) Stock Position Lifted by Consolidated Planning Corp

Consolidated Planning Corp lifted its holdings in McKesson Co. (NYSE:MCK) by 106.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,363 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. Consolidated Planning Corp’s holdings in McKesson were worth $1,347,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its stake in shares of 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the third quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at about $32,000. Finally, Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at about $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 2.5 %

Shares of McKesson stock opened at $595.24 on Thursday. The stock has a 50-day moving average price of $587.89 and a 200 day moving average price of $562.68. The company has a market cap of $75.56 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts forecast that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Ratings Changes

MCK has been the subject of several research reports. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $645.79.

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.