Key Financial Inc Lowers Stake in McKesson Co. (NYSE:MCK)

Key Financial Inc reduced its stake in shares of McKesson Co. (NYSE:MCK) by 20.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273 shares of the company’s stock after selling 70 shares during the quarter. Key Financial Inc’s holdings in McKesson were worth $156,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC lifted its stake in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCK shares. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.8 %

MCK opened at $598.61 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a market cap of $75.99 billion, a P/E ratio of 27.41, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. The firm’s 50-day moving average price is $587.59 and its 200-day moving average price is $561.91.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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, research analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

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 given 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 of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

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.