Wright Investors Service Inc. Sells 2,757 Shares of McKesson Co. (NYSE:MCK)

Wright Investors Service Inc. lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 81.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 647 shares of the company's stock after selling 2,757 shares during the period. Wright Investors Service Inc.'s holdings in McKesson were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Traveka Wealth LLC bought a new position in McKesson in the fourth quarter valued at $237,000. Unique Wealth LLC increased its position in shares of McKesson by 10.0% during the 4th quarter. Unique Wealth LLC now owns 1,672 shares of the company's stock valued at $953,000 after purchasing an additional 152 shares during the last quarter. CHB Investment Group LLC raised its holdings in shares of McKesson by 0.6% during the 4th quarter. CHB Investment Group LLC now owns 4,607 shares of the company's stock valued at $2,626,000 after buying an additional 26 shares in the last quarter. Signet Financial Management LLC lifted its position in McKesson by 1.3% in the 4th quarter. Signet Financial Management LLC now owns 4,065 shares of the company's stock worth $2,317,000 after buying an additional 51 shares during the last quarter. Finally, Peddock Capital Advisors LLC boosted its stake in McKesson by 0.5% in the fourth quarter. Peddock Capital Advisors LLC now owns 8,031 shares of the company's stock worth $4,577,000 after buying an additional 43 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MCK shares. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Finally, StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. 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 company's stock. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $646.14.

McKesson Price Performance

McKesson stock traded up $9.03 during mid-day trading on Tuesday, reaching $594.11. 857,259 shares of the company traded hands, compared to its average volume of 642,532. The firm's 50 day moving average price is $593.71 and its 200 day moving average price is $560.83. 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 $75.42 billion, a price-to-earnings ratio of 30.77, a P/E/G ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business posted $6.23 earnings per share. On average, sell-side analysts anticipate 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. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In other 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 value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.11% of the company's stock.

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.