Wright Investors Service Inc. Sells 2,757 Shares of McKesson Co. (NYSE:MCK)

Wright Investors Service Inc. decreased its position in shares of McKesson Co. (NYSE:MCK) by 81.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647 shares of the company’s stock after selling 2,757 shares during the quarter. Wright Investors Service Inc.’s holdings in McKesson were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Distillate Capital Partners LLC increased its stake in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC raised its holdings in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after acquiring an additional 1,393 shares in the last quarter. Finally, Commerce Bank boosted its stake in McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $584.62 on Tuesday. The firm has a market cap of $74.21 billion, a PE ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock’s fifty day moving average price is $593.71 and its two-hundred day moving average price is $560.83.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Transactions at McKesson

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Company 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.