Ashton Thomas Securities LLC Sells 262 Shares of McKesson Co. (NYSE:MCK)

Ashton Thomas Securities LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,055 shares of the company’s stock after selling 262 shares during the period. McKesson accounts for about 1.4% of Ashton Thomas Securities LLC’s portfolio, making the stock its 17th biggest holding. Ashton Thomas Securities LLC’s holdings in McKesson were worth $5,162,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MCK. Millstone Evans Group LLC bought a new position in McKesson in the 4th quarter worth approximately $28,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter worth $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the fourth quarter worth $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter valued at $33,000. Finally, Atala Financial Inc bought a new stake in McKesson in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MCK shares. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $649.36.

McKesson Price Performance

McKesson stock opened at $661.56 on Tuesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The company’s 50-day moving average is $617.68 and its 200 day moving average is $575.39. The firm has a market capitalization of $82.91 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued 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%. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company’s stock.

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.