Galvin Gaustad & Stein LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Galvin Gaustad & Stein LLC lowered its stake in shares of McKesson Co. (NYSE:MCK) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 954 shares of the company’s stock after selling 39 shares during the quarter. Galvin Gaustad & Stein LLC’s holdings in McKesson were worth $544,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Chase Investment Counsel Corp increased its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after purchasing an additional 1,393 shares during the last quarter. Commerce Bank increased its position in shares of McKesson by 2.0% during the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of McKesson during the 2nd quarter valued at approximately $12,331,000. Finally, West Oak Capital LLC increased its position in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,690 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.7 %

NYSE:MCK opened at $588.52 on Thursday. The company has a market cap of $74.71 billion, a PE ratio of 30.59, a P/E/G ratio of 1.27 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company’s 50 day moving average is $593.20 and its two-hundred day moving average is $561.23.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 EPS. As a group, analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend 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 equities analysts have commented on MCK shares. Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity

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

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.