AGH Wealth Advisors LLC Trims Stock Position in McKesson Co. (NYSE:MCK)

by · The Cerbat Gem

AGH Wealth Advisors LLC trimmed its holdings in McKesson Co. (NYSE:MCK – Free Report) by 4.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 519 shares of the company’s stock after selling 24 shares during the period. AGH Wealth Advisors LLC’s holdings in McKesson were worth $349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Norges Bank purchased a new stake in McKesson in the 4th quarter worth approximately $1,200,361,000. Farallon Capital Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $348,044,000. Marshall Wace LLP grew its stake in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares during the period. Finally, Leigh Baldwin & CO. LLC purchased a new position in shares of McKesson during the 4th quarter valued at approximately $182,861,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock opened at $710.66 on Friday. The business has a 50 day simple moving average of $698.91 and a two-hundred day simple moving average of $640.44. The stock has a market capitalization of $88.91 billion, a P/E ratio of 32.54, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

McKesson (NYSE:MCK – Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the company earned $6.18 EPS. The firm’s revenue was up 18.9% compared to the same quarter last year. As a group, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCK. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. Wells Fargo & Company upped their price target on McKesson from $691.00 to $766.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $692.46.

Check Out Our Latest Stock Analysis on MCK

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the sale, the executive vice president now owns 2,621 shares of the company’s stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,747 shares of company stock worth $9,852,587. 0.11% of the stock is owned by insiders.

McKesson Profile

(Free Report)

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.

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