SRS Capital Advisors Inc. Trims Stock Holdings in McKesson Co. (NYSE:MCK)

SRS Capital Advisors Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 678 shares of the company’s stock after selling 41 shares during the period. SRS Capital Advisors Inc.’s holdings in McKesson were worth $387,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Stephens Inc. AR grew its holdings in McKesson by 3.1% during the 3rd quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock valued at $744,000 after buying an additional 45 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in McKesson by 17.0% during the third quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock valued at $342,000 after acquiring an additional 99 shares in the last quarter. Pure Financial Advisors LLC grew its stake in McKesson by 3.2% during the third quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock valued at $379,000 after acquiring an additional 24 shares in the last quarter. Van ECK Associates Corp increased its holdings in McKesson by 30.9% during the 3rd quarter. Van ECK Associates Corp now owns 81,957 shares of the company’s stock worth $41,123,000 after acquiring an additional 19,330 shares during the period. Finally, Intact Investment Management Inc. bought a new position in McKesson in the 3rd quarter valued at $3,560,000. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Citigroup decreased 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, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in the last three months. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $645.34 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $648.47. The company has a fifty day moving average of $595.50 and a 200-day moving average of $564.96. The stock has a market capitalization of $80.88 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.