Strategic Investment Advisors MI Has $874,000 Stake in McKesson Co. (NYSE:MCK)

Strategic Investment Advisors MI decreased its position in McKesson Co. (NYSE:MCK) by 10.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,534 shares of the company’s stock after selling 174 shares during the quarter. Strategic Investment Advisors MI’s holdings in McKesson were worth $874,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MCK. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after acquiring an additional 28 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. 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 report on Friday, December 13th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Trading Down 1.0 %

NYSE MCK opened at $591.47 on Monday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a 50 day moving average of $592.65 and a 200-day moving average of $561.31. The company 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 released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

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.