McKesson Co. (NYSE:MCK) Stock Position Decreased by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC lowered its position in McKesson Co. (NYSE:MCK) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,498 shares of the company’s stock after selling 46 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in McKesson were worth $854,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its holdings in McKesson by 140.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company’s stock worth $1,747,000 after purchasing an additional 1,747 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in McKesson by 5.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company’s stock valued at $230,821,000 after buying an additional 21,832 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of McKesson by 0.3% in the second quarter. Mutual of America Capital Management LLC now owns 20,394 shares of the company’s stock valued at $11,911,000 after purchasing an additional 63 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of McKesson by 16.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company’s stock worth $38,176,000 after purchasing an additional 9,263 shares during the period. Finally, Waterloo Capital L.P. acquired a new position in shares of McKesson during the 2nd quarter worth about $246,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Price Performance

Shares of McKesson stock traded down $6.45 on Friday, hitting $588.74. The company had a trading volume of 108,133 shares, compared to its average volume of 594,854. The firm has a market capitalization of $74.73 billion, a P/E ratio of 30.45, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a 50-day moving average of $595.77 and a 200-day moving average of $561.06.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $6.23 EPS. Equities analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

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.