Marcum Wealth LLC Lowers Holdings in McKesson Co. (NYSE:MCK)

Marcum Wealth LLC trimmed its position in McKesson Co. (NYSE:MCK) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 615 shares of the company’s stock after selling 38 shares during the quarter. Marcum Wealth LLC’s holdings in McKesson were worth $350,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $594.11 on Wednesday. The company’s 50 day moving average price is $595.09 and its 200-day moving average price is $560.90. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a market capitalization of $75.42 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.23 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $646.14.

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.