McKesson Co. (NYSE:MCK) Stock Position Reduced by Forvis Mazars Wealth Advisors LLC

Forvis Mazars Wealth Advisors LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,892 shares of the company’s stock after selling 180 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in McKesson were worth $5,068,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cibc World Market Inc. lifted its holdings in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares during the last quarter. Commerce Bank lifted its holdings in McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after buying an additional 3,020 shares during the last quarter. West Oak Capital LLC lifted its holdings in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new position in McKesson during the 4th quarter worth approximately $3,018,000. Finally, Ingalls & Snyder LLC lifted its holdings in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $597.68 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market cap of $74.91 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business’s fifty day moving average is $589.02 and its 200-day moving average is $562.01.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $645.79.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of McKesson 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 transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock worth $6,177,790 in the last three months. 0.11% of the stock is currently owned by insiders.

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.