McKesson Co. (NYSE:MCK) Holdings Trimmed by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC lowered its holdings in McKesson Co. (NYSE:MCK) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,477 shares of the company’s stock after selling 60 shares during the period. McKesson makes up 1.0% of Atlantic Edge Private Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Atlantic Edge Private Wealth Management LLC’s holdings in McKesson were worth $3,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Old North State Trust LLC boosted its stake in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont grew its stake in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares in the last quarter. Black Diamond Financial LLC increased its position in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the last quarter. QV Investors Inc. raised its stake in shares of McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock worth $1,730,000 after purchasing an additional 20 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its position in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

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

McKesson Stock Up 1.3 %

MCK stock opened at $603.33 on Tuesday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market cap of $76.59 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The business’s 50-day simple moving average is $588.40 and its 200 day simple moving average is $562.55.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th. Finally, Mizuho assumed 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 research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $645.79.

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.