Confluence Wealth Services Inc. Sells 155 Shares of McKesson Co. (NYSE:MCK)

Confluence Wealth Services Inc. cut its holdings in shares of McKesson Co. (NYSE:MCK) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,134 shares of the company’s stock after selling 155 shares during the period. Confluence Wealth Services Inc.’s holdings in McKesson were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in McKesson by 16.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,526 shares of the company’s stock worth $10,062,000 after purchasing an additional 2,414 shares in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of McKesson during the fourth quarter worth $787,000. E. Ohman J or Asset Management AB raised its holdings in shares of McKesson by 12.8% during the fourth quarter. E. Ohman J or Asset Management AB now owns 5,800 shares of the company’s stock worth $3,305,000 after acquiring an additional 660 shares during the period. Mather Group LLC. increased its holdings in McKesson by 2.5% during the 4th quarter. Mather Group LLC. now owns 862 shares of the company’s stock worth $491,000 after purchasing an additional 21 shares in the last quarter. Finally, Tempus Wealth Planning LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $205,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCK shares. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Up 0.6 %

Shares of NYSE:MCK opened at $603.40 on Wednesday. The stock has a market cap of $76.59 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business has a 50 day moving average of $590.03 and a 200-day moving average of $562.26.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.23 earnings per share. Equities research analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is presently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.