HBK Sorce Advisory LLC Sells 97 Shares of McKesson Co. (NYSE:MCK)

HBK Sorce Advisory LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,231 shares of the company’s stock after selling 97 shares during the period. HBK Sorce Advisory LLC’s holdings in McKesson were worth $570,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates lifted its position in McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in shares of McKesson in the fourth quarter worth $1,813,000. Aspire Private Capital LLC raised its holdings in shares of McKesson by 3.2% in the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock worth $851,000 after buying an additional 60 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of McKesson by 5.7% in the fourth quarter. Nordea Investment Management AB now owns 756,560 shares of the company’s stock worth $350,734,000 after buying an additional 40,907 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of McKesson by 8.3% in the third quarter. LPL Financial LLC now owns 86,130 shares of the company’s stock worth $37,454,000 after buying an additional 6,571 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Argus raised their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company started coverage on shares of McKesson in a report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price for the company. Finally, UBS Group raised their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $528.64.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $529.99 on Thursday. The firm has a market cap of $69.64 billion, a PE ratio of 24.01, a P/E/G ratio of 1.44 and a beta of 0.45. The firm’s fifty day moving average is $522.26 and its 200 day moving average is $482.59. McKesson Co. has a one year low of $352.34 and a one year high of $543.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.90 earnings per share. Research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

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.