Crossmark Global Holdings Inc. Sells 2,471 Shares of McKesson Co. (NYSE:MCK)

Crossmark Global Holdings Inc. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,882 shares of the company’s stock after selling 2,471 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in McKesson were worth $18,170,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MCK. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC increased its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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 approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on MCK. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Leerink Partners decreased their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Trading Down 0.4 %

Shares of MCK stock opened at $592.69 on Tuesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market capitalization of $75.24 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The firm has a fifty day simple moving average of $595.11 and a two-hundred day simple moving average of $561.01.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.23 EPS. On average, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.48%. McKesson’s payout ratio is currently 14.71%.

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.