Old Port Advisors Reduces Stock Position in McKesson Co. (NYSE:MCK)

Old Port Advisors cut its position in McKesson Co. (NYSE:MCK) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,367 shares of the company’s stock after selling 375 shares during the period. Old Port Advisors’ holdings in McKesson were worth $779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC acquired a new stake in McKesson during the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup raised their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $650.14.

McKesson Stock Performance

Shares of MCK stock traded down $0.93 on Thursday, reaching $568.98. 64,692 shares of the company were exchanged, compared to its average volume of 816,359. The company has a market cap of $72.23 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The business has a 50-day moving average price of $582.07 and a 200 day moving average price of $562.22.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.50%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.