Murphy Capital Management Inc. Cuts Position in McKesson Co. (NYSE:MCK)

Murphy Capital Management Inc. cut its stake in shares of McKesson Co. (NYSE:MCK) by 19.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,600 shares of the company’s stock after selling 1,100 shares during the period. Murphy Capital Management Inc.’s holdings in McKesson were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Quadrant Capital Group LLC lifted its position in shares of McKesson by 5.7% in the fourth quarter. Quadrant Capital Group LLC now owns 1,784 shares of the company’s stock worth $190,000 after buying an additional 96 shares in the last quarter. Courier Capital LLC lifted its position in shares of McKesson by 4.0% in the fourth quarter. Courier Capital LLC now owns 2,614 shares of the company’s stock worth $289,000 after buying an additional 100 shares in the last quarter. Certified Advisory Corp lifted its position in shares of McKesson by 12.6% in the fourth quarter. Certified Advisory Corp now owns 1,089 shares of the company’s stock worth $120,000 after buying an additional 122 shares in the last quarter. Old North State Trust LLC lifted its position in shares of McKesson by 53.3% in the fourth quarter. Old North State Trust LLC now owns 391 shares of the company’s stock worth $43,000 after buying an additional 136 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in shares of McKesson by 161.2% in the fourth quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock worth $25,000 after buying an additional 137 shares in the last quarter. Institutional investors own 86.45% of the company’s stock.

Shares of MCK traded up $0.85 during mid-day trading on Friday, reaching $123.48. 1,759,150 shares of the company’s stock traded hands, compared to its average volume of 1,497,825. The stock has a market cap of $23.69 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.21 and a beta of 1.23. McKesson Co. has a 12 month low of $106.11 and a 12 month high of $151.86. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.57 and a current ratio of 1.02.

McKesson (NYSE:MCK) last released its earnings results on Thursday, January 31st. The company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $3.18 by $0.22. The firm had revenue of $56.21 billion for the quarter, compared to analysts’ expectations of $55.27 billion. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. During the same quarter in the prior year, the firm posted $3.41 earnings per share. As a group, analysts predict that McKesson Co. will post 13.55 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.26%. McKesson’s payout ratio is 12.36%.

MCK has been the topic of a number of research analyst reports. ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, March 1st. UBS Group started coverage on McKesson in a research note on Thursday, January 17th. They set a “neutral” rating and a $134.00 price objective on the stock. Zacks Investment Research cut McKesson from a “hold” rating to a “sell” rating in a research note on Tuesday, April 16th. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research note on Friday, January 25th. Finally, Wolfe Research started coverage on McKesson in a research note on Tuesday, April 2nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $134.90.

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About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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