McKesson Co. (NYSE:MCK) Shares Sold by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,498 shares of the company’s stock after selling 46 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in McKesson were worth $854,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of MCK. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the third quarter valued at $31,000. ORG Wealth Partners LLC purchased a new position in McKesson during the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MCK shares. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Leerink Partners reduced their target price 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. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of McKesson stock traded down $6.45 on Friday, reaching $588.74. 108,133 shares of the company were exchanged, compared to its average volume of 594,854. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The firm has a market cap of $74.73 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 1.26 and a beta of 0.52. The company’s 50-day moving average is $595.77 and its two-hundred day moving average is $561.06.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during 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 company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

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.