EPG Wealth Management LLC Decreases Position in McKesson Co. (NYSE:MCK)

EPG Wealth Management LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 41.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,295 shares of the company’s stock after selling 1,618 shares during the period. EPG Wealth Management LLC’s holdings in McKesson were worth $1,308,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new position in McKesson during the fourth quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new position in McKesson during the fourth quarter worth $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Up 0.6 %

McKesson stock opened at $711.23 on Wednesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The firm has a market cap of $89.14 billion, a PE ratio of 32.57, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company’s 50 day moving average is $674.69 and its two-hundred day moving average is $616.80.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate 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 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho lifted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $681.00.

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.