Park Avenue Securities LLC Sells 110 Shares of McKesson Co. (NYSE:MCK)

Park Avenue Securities LLC decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,285 shares of the company’s stock after selling 110 shares during the period. Park Avenue Securities LLC’s holdings in McKesson were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MCK. Wolff Wiese Magana LLC increased its position in 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 buying an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the third quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC increased 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 purchasing an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCK shares. Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Performance

NYSE:MCK opened at $592.69 on Friday. The stock’s fifty day moving average is $595.51 and its 200 day moving average is $561.29. The firm has a market capitalization of $75.24 billion, a PE ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 EPS. Equities analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

McKesson 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.