Orion Portfolio Solutions LLC Reduces Position in McKesson Co. (NYSE:MCK)

Orion Portfolio Solutions LLC trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,288 shares of the company's stock after selling 853 shares during the quarter. Orion Portfolio Solutions LLC's holdings in McKesson were worth $10,992,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Frank Rimerman Advisors LLC grew its stake in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after acquiring an additional 17 shares in the last quarter. Old North State Trust LLC grew its position in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its position in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after buying an additional 20 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

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McKesson Price Performance

NYSE MCK traded up $16.70 during trading on Wednesday, reaching $690.39. 504,000 shares of the company's stock traded hands, compared to its average volume of 819,283. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $692.00. The firm has a market cap of $86.52 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company's 50 day simple moving average is $626.97 and its two-hundred day simple moving average is $582.06.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus target price of $656.71.

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.