New Century Financial Group LLC Lowers Stake in McKesson Co. (NYSE:MCK)

New Century Financial Group LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 67.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 466 shares of the company’s stock after selling 945 shares during the quarter. New Century Financial Group LLC’s holdings in McKesson were worth $269,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC raised its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the third quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in McKesson during the third quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC grew its position in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’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 transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 1.0 %

Shares of NYSE MCK opened at $591.47 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The business’s 50 day moving average is $592.95 and its two-hundred day moving average is $561.48. The firm has a market cap of $75.08 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the firm posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.