ProVise Management Group LLC Sells 154 Shares of McKesson Co. (NYSE:MCK)

ProVise Management Group LLC decreased its holdings in McKesson Co. (NYSE:MCK) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,823 shares of the company’s stock after selling 154 shares during the quarter. ProVise Management Group LLC’s holdings in McKesson were worth $5,937,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth $1,024,140,000. International Assets Investment Management LLC grew its stake in shares of McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley grew its stake in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after buying an additional 272,266 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The shares were 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 of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan R. Salka sold 606 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,080 shares of company stock valued at $2,160,489. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, UBS Group upped their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $571.47.

McKesson Price Performance

Shares of McKesson stock traded up $2.70 on Friday, reaching $560.73. 512,341 shares of the company traded hands, compared to its average volume of 709,698. McKesson Co. has a 52 week low of $373.28 and a 52 week high of $566.16. The company has a 50 day moving average of $538.10 and a 200 day moving average of $501.87. The firm has a market capitalization of $72.89 billion, a PE ratio of 24.99, a PEG ratio of 1.30 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the business posted $7.19 earnings per share. As a group, analysts anticipate that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

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.