Paladin Advisory Group LLC Has $135,000 Holdings in McKesson Co. (NYSE:MCK)

Paladin Advisory Group LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 292 shares of the company’s stock after selling 89 shares during the period. Paladin Advisory Group LLC’s holdings in McKesson were worth $135,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd increased its stake in shares of McKesson by 72.3% in the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of McKesson in the 3rd quarter valued at about $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson in the 3rd quarter valued at about $27,000. Live Oak Investment Partners bought a new stake in shares of McKesson in the 4th quarter valued at about $30,000. Finally, BKM Wealth Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $31,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 1.2 %

Shares of NYSE MCK traded up $6.02 during trading hours on Friday, hitting $524.83. The company had a trading volume of 645,368 shares, compared to its average volume of 688,808. The stock has a market capitalization of $68.97 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The firm’s 50 day moving average is $524.44 and its 200-day moving average 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 the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter last year, the firm posted $6.90 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction 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 approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction 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 transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MCK. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Barclays assumed coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. Finally, UBS Group raised their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $533.50.

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.