Wesbanco Bank Inc. Lowers Stock Position in McKesson Co. (NYSE:MCK)

Wesbanco Bank Inc. trimmed its position in McKesson Co. (NYSE:MCK) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,773 shares of the company’s stock after selling 55 shares during the quarter. Wesbanco Bank Inc.’s holdings in McKesson were worth $1,580,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson during the third quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson in the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC boosted its stake 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 worth $47,000 after acquiring an additional 28 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $597.31 on Friday. The stock has a 50 day moving average price of $593.20 and a 200 day moving average price of $561.23. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market capitalization of $75.82 billion, a P/E ratio of 30.93, a P/E/G ratio of 1.27 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates 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 was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid 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 was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on MCK shares. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Wells Fargo & Company raised their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s 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 sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

McKesson Company Profile

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.