Channel Wealth LLC Sells 2,445 Shares of McKesson Co. (NYSE:MCK)

Channel Wealth LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,737 shares of the company's stock after selling 2,445 shares during the period. McKesson makes up approximately 1.3% of Channel Wealth LLC's investment portfolio, making the stock its 24th largest holding. Channel Wealth LLC's holdings in McKesson were worth $3,839,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Empirical Asset Management LLC bought a new stake in McKesson during the fourth quarter worth approximately $19,382,000. Seaside Wealth Management Inc. acquired a new stake in shares of McKesson during the 4th quarter valued at $215,000. Cypress Wealth Services LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $226,000. Ritholtz Wealth Management increased its stake in McKesson by 2.4% in the 4th quarter. Ritholtz Wealth Management now owns 13,036 shares of the company's stock worth $7,429,000 after purchasing an additional 302 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in McKesson by 25.6% during the fourth quarter. Gateway Investment Advisers LLC now owns 5,941 shares of the company's stock valued at $3,386,000 after buying an additional 1,212 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Down 0.4 %

Shares of NYSE:MCK traded down $2.50 during trading on Friday, reaching $592.69. The stock had a trading volume of 542,802 shares, compared to its average volume of 627,210. The stock has a fifty day simple moving average of $595.51 and a two-hundred day simple moving average of $561.29. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market capitalization of $75.24 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm posted $6.23 EPS. The business's quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors 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 payout ratio is 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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 directly owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent analyst reports. Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.