J. W. Coons Advisors LLC Decreases Stock Position in McKesson Co. (NYSE:MCK)

J. W. Coons Advisors LLC decreased its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,765 shares of the company’s stock after selling 25 shares during the period. J. W. Coons Advisors LLC’s holdings in McKesson were worth $817,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Douglass Winthrop Advisors LLC boosted its stake in McKesson by 1.4% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares during the last quarter. Addison Advisors LLC boosted its position in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after acquiring an additional 22 shares during the last quarter. Evergreen Wealth Solutions LLC grew its stake in McKesson by 1.2% during the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after acquiring an additional 22 shares in the last quarter. Keystone Financial Services raised its holdings in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after acquiring an additional 24 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its holdings in shares of McKesson by 2.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $586.90 on Friday. The company has a market cap of $76.29 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.47. The stock’s 50-day moving average is $545.73 and its two-hundred day moving average is $510.37. McKesson Co. has a 1-year low of $383.82 and a 1-year high of $591.80.

McKesson (NYSE:MCKGet Free Report) last released its 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). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s payout ratio is currently 11.08%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at approximately $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 28,204 shares of company stock valued at $15,699,113 over the last quarter. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on MCK shares. Robert W. Baird increased their price target on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. SVB Leerink initiated coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. UBS Group increased their price target on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

View Our Latest Analysis on McKesson

McKesson Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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