McKesson Co. (NYSE:MCK) Shares Sold by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC lowered its position in McKesson Co. (NYSE:MCK) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 381 shares of the company’s stock after selling 25 shares during the quarter. Gryphon Financial Partners LLC’s holdings in McKesson were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MCK. Stephens Inc. AR increased its holdings in shares of McKesson by 3.1% in the 3rd quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock valued at $744,000 after purchasing an additional 45 shares during the period. Chicago Partners Investment Group LLC increased its stake in shares of McKesson by 17.0% in the third quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock worth $342,000 after acquiring an additional 99 shares during the last quarter. Pure Financial Advisors LLC raised its holdings in shares of McKesson by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock worth $379,000 after acquiring an additional 24 shares in the last quarter. Van ECK Associates Corp boosted its position in McKesson by 30.9% during the third quarter. Van ECK Associates Corp now owns 81,957 shares of the company’s stock valued at $41,123,000 after purchasing an additional 19,330 shares during the last quarter. Finally, Intact Investment Management Inc. purchased a new position in McKesson in the third quarter valued at about $3,560,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Trading Up 0.8 %

Shares of McKesson stock opened at $645.34 on Tuesday. The company’s fifty day simple moving average is $595.50 and its 200-day simple moving average is $564.96. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $648.47. The company has a market cap of $80.88 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock valued at $11,536,378 over the last quarter. Corporate 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.