Corient Private Wealth LLC Sells 5,939 Shares of McKesson Co. (NYSE:MCK)

Corient Private Wealth LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 3.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 187,725 shares of the company’s stock after selling 5,939 shares during the quarter. Corient Private Wealth LLC owned about 0.15% of McKesson worth $106,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the 3rd quarter valued at about $29,000. Crews Bank & Trust purchased a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth about $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCK. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Evercore ISI lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Stock Performance

NYSE:MCK opened at $650.96 on Monday. The stock has a market capitalization of $81.58 billion, a P/E ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50-day simple moving average is $608.54 and its 200-day simple moving average is $570.95. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.62.

McKesson (NYSE:MCK) last released 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.