Zhang Financial LLC Sells 449 Shares of McKesson Co. (NYSE:MCK)

Zhang Financial LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,558 shares of the company’s stock after selling 449 shares during the quarter. Zhang Financial LLC’s holdings in McKesson were worth $2,110,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Legacy Financial Group LLC acquired a new position in McKesson in the third quarter valued at $27,000. OFI Invest Asset Management acquired a new position in McKesson in the third quarter valued at $26,000. BKM Wealth Management LLC acquired a new position in McKesson in the fourth quarter valued at $31,000. Live Oak Investment Partners acquired a new position in McKesson in the fourth quarter valued at $30,000. Finally, Covestor Ltd lifted its holdings in McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Stock Up 1.1 %

MCK stock traded up $5.56 during trading on Friday, reaching $524.37. The stock had a trading volume of 322,363 shares, compared to its average volume of 684,288. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The company’s 50 day moving average is $524.44 and its two-hundred day moving average is $485.71. The company has a market capitalization of $68.91 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the prior year, the firm earned $6.90 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. As a group, research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Mizuho upped their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

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.