Burney Co. Sells 4,284 Shares of McKesson Co. (NYSE:MCK)

Burney Co. lowered its position in McKesson Co. (NYSE:MCK - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,114 shares of the company's stock after selling 4,284 shares during the period. McKesson comprises 1.3% of Burney Co.'s holdings, making the stock its 13th largest position. Burney Co.'s holdings in McKesson were worth $35,399,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wolff Wiese Magana LLC raised its holdings in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC boosted its position in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on MCK shares. Citigroup cut 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. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Finally, Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average price target of $646.14.

McKesson Trading Down 1.7 %

MCK stock traded down $10.22 during mid-day trading on Wednesday, hitting $583.51. 718,822 shares of the company were exchanged, compared to its average volume of 650,944. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock has a market capitalization of $74.07 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. The business has a 50 day simple moving average of $595.09 and a 200-day simple moving average of $560.90.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results 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. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts' expectations of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by 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.