Hennion & Walsh Asset Management Inc. Has $8.57 Million Stake in McKesson Co. (NYSE:MCK)

Hennion & Walsh Asset Management Inc. cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,033 shares of the company's stock after selling 1,334 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in McKesson were worth $8,567,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its position in shares of McKesson by 140.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,992 shares of the company's stock worth $1,747,000 after buying an additional 1,747 shares during the period. Dimensional Fund Advisors LP boosted its position in McKesson by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 395,150 shares of the company's stock worth $230,821,000 after acquiring an additional 21,832 shares during the period. Citizens Financial Group Inc. RI grew its stake in shares of McKesson by 88.6% in the second quarter. Citizens Financial Group Inc. RI now owns 1,858 shares of the company's stock worth $1,086,000 after purchasing an additional 873 shares in the last quarter. WealthPLAN Partners LLC increased its holdings in shares of McKesson by 23.5% during the second quarter. WealthPLAN Partners LLC now owns 1,363 shares of the company's stock valued at $796,000 after purchasing an additional 259 shares during the period. Finally, Moors & Cabot Inc. raised its stake in shares of McKesson by 7.1% during the second quarter. Moors & Cabot Inc. now owns 2,448 shares of the company's stock valued at $1,430,000 after purchasing an additional 163 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 1.9 %

MCK stock traded up $11.17 during mid-day trading on Thursday, reaching $594.62. 582,348 shares of the stock traded hands, compared to its average volume of 644,495. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock's fifty day moving average is $595.77 and its 200-day moving average is $561.06. The company has a market cap of $75.48 billion, a P/E ratio of 30.79, a P/E/G ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for 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 company's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.23 EPS. Equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company'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 owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MCK shares. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $646.14.

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.