Forvis Mazars Wealth Advisors LLC Has $5.07 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Forvis Mazars Wealth Advisors LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,892 shares of the company’s stock after selling 180 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in McKesson were worth $5,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Dakota Wealth Management boosted its position in shares of McKesson by 9.1% in the third quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock worth $761,000 after buying an additional 128 shares during the period. Highland Capital Management LLC boosted its position in shares of McKesson by 19.7% in the third quarter. Highland Capital Management LLC now owns 9,375 shares of the company’s stock worth $4,635,000 after buying an additional 1,545 shares during the period. Allworth Financial LP boosted its position in McKesson by 0.8% during the third quarter. Allworth Financial LP now owns 2,894 shares of the company’s stock valued at $1,431,000 after purchasing an additional 23 shares during the last quarter. Parcion Private Wealth LLC acquired a new stake in McKesson during the third quarter valued at $306,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in McKesson by 34.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,112 shares of the company’s stock valued at $7,378,000 after purchasing an additional 3,853 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,307 shares of company stock worth $6,177,790. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $597.68 on Friday. The business’s 50-day simple moving average is $589.02 and its 200-day simple moving average is $562.01. The firm has a market capitalization of $74.91 billion, a PE ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts forecast 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, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup reduced 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 issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

About McKesson

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.