Pinnacle Wealth Management Advisory Group LLC Sells 58 Shares of McKesson Co. (NYSE:MCK)

Pinnacle Wealth Management Advisory Group LLC cut its position in shares of McKesson Co. (NYSE:MCK) by 4.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,161 shares of the company’s stock after selling 58 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in McKesson were worth $538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. International Assets Investment Management LLC increased its position in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley boosted its holdings in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after buying an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in McKesson by 5,683.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCK. Morgan Stanley increased their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday. Robert W. Baird raised their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, UBS Group raised their price target on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $569.86.

McKesson Stock Performance

NYSE:MCK traded down $2.53 during mid-day trading on Wednesday, reaching $543.22. 1,378,614 shares of the company’s stock were exchanged, compared to its average volume of 713,234. The firm has a market capitalization of $71.38 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a one year low of $373.28 and a one year high of $566.01. The business’s fifty day simple moving average is $531.17 and its two-hundred day simple moving average is $493.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.19 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Activity at McKesson

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

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.