McKesson Co. (NYSE:MCK) Shares Sold by Leisure Capital Management

Leisure Capital Management reduced its position in McKesson Co. (NYSE:MCK) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,031 shares of the company’s stock after selling 49 shares during the quarter. Leisure Capital Management’s holdings in McKesson were worth $1,158,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter worth $32,000. Finally, Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.6 %

Shares of NYSE MCK opened at $594.85 on Monday. The company has a market cap of $75.51 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $590.79 and its 200 day simple moving average is $561.94. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 14.71%.

About McKesson

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.