Delta Investment Management LLC Sells 92 Shares of McKesson Co. (NYSE:MCK)

Delta Investment Management LLC reduced its stake in McKesson Co. (NYSE:MCK) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 716 shares of the company’s stock after selling 92 shares during the period. Delta Investment Management LLC’s holdings in McKesson were worth $331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. DAVENPORT & Co LLC lifted its holdings in McKesson by 27.1% during the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock worth $920,000 after acquiring an additional 451 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares in the last quarter. Caprock Group LLC lifted its holdings in McKesson by 15.8% during the third quarter. Caprock Group LLC now owns 1,178 shares of the company’s stock worth $513,000 after acquiring an additional 161 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of McKesson by 17.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,169 shares of the company’s stock valued at $509,000 after purchasing an additional 177 shares during the period. Finally, Connecticut Wealth Management LLC raised its stake in shares of McKesson by 33.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 1,061 shares of the company’s stock valued at $461,000 after purchasing an additional 265 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MCK. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. SVB Leerink began coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. UBS Group lifted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup lifted their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.50.

McKesson Trading Up 0.6 %

Shares of NYSE:MCK traded up $3.36 during trading on Friday, reaching $543.30. 654,669 shares of the stock were exchanged, compared to its average volume of 493,786. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The firm has a market cap of $71.40 billion, a PE ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. The stock has a 50-day moving average price of $528.15 and a 200-day moving average price of $489.48.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.