RFG Advisory LLC Reduces Stock Position in McKesson Co. (NYSE:MCK)

RFG Advisory LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,190 shares of the company’s stock after selling 23 shares during the quarter. RFG Advisory LLC’s holdings in McKesson were worth $1,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC boosted its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the third quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC grew its position in McKesson by 51.9% during the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set 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 report on Thursday, November 7th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Trading Down 1.0 %

McKesson stock opened at $591.47 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a 50-day moving average price of $592.65 and a 200-day moving average price of $561.49. The firm has a market capitalization of $75.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 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.