McKesson Co. (NYSE:MCK) Shares Sold by Burney Co.

Burney Co. cut its holdings in shares of McKesson Co. (NYSE:MCK) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,114 shares of the company’s stock after selling 4,284 shares during the period. McKesson accounts for about 1.3% of Burney Co.’s holdings, making the stock its 13th biggest position. Burney Co.’s holdings in McKesson were worth $35,399,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Distillate Capital Partners LLC lifted its holdings in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp lifted its holdings in McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after acquiring an additional 3,027 shares during the period. Newbridge Financial Services Group Inc. grew its stake in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares during the period. Commerce Bank lifted its stake in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in McKesson during the second quarter worth about $12,331,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MCK shares. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Price Performance

NYSE:MCK opened at $588.11 on Wednesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The business’s 50-day moving average is $595.09 and its two-hundred day moving average is $560.90. The firm has a market capitalization of $74.65 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52.

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

McKesson Announces Dividend

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

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.