Resonant Capital Advisors LLC Has $3.91 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Resonant Capital Advisors LLC trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,437 shares of the company’s stock after selling 535 shares during the quarter. Resonant Capital Advisors LLC’s holdings in McKesson were worth $3,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Fairfield Bush & CO. bought a new position in shares of McKesson in the first quarter valued at $46,000. Synovus Financial Corp increased its stake in shares of McKesson by 4.0% in the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock worth $673,000 after purchasing an additional 85 shares in the last quarter. Prudential PLC purchased a new position in shares of McKesson in the first quarter worth about $1,610,000. Cetera Investment Advisers grew its stake in McKesson by 17.8% during the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock valued at $3,012,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Moors & Cabot Inc. purchased a new position in McKesson during the first quarter valued at approximately $598,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Up 1.2 %

Shares of MCK stock traded up $6.10 during trading hours on Friday, reaching $524.91. 391,117 shares of the company’s stock were exchanged, compared to its average volume of 685,243. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The stock has a market cap of $68.98 billion, a PE ratio of 23.75, a PEG ratio of 1.43 and a beta of 0.45. The stock’s fifty day moving average price is $524.44 and its two-hundred day moving average price is $485.71.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.90 earnings per share. On average, equities analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Argus lifted their target price on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Mizuho boosted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, UBS Group upped their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% 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.