Graphene Investments SAS Sells 1,400 Shares of McKesson Co. (NYSE:MCK)

Graphene Investments SAS lowered its position in shares of McKesson Co. (NYSE:MCK) by 21.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,200 shares of the company’s stock after selling 1,400 shares during the period. McKesson makes up about 2.0% of Graphene Investments SAS’s portfolio, making the stock its 24th largest position. Graphene Investments SAS’s holdings in McKesson were worth $2,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. Crews Bank & Trust bought a new position in McKesson in the fourth quarter valued at approximately $33,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in McKesson during the third quarter worth $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, McKesson presently has a consensus rating of “Buy” and an average target price of $645.79.

McKesson Trading Down 1.3 %

NYSE MCK opened at $598.85 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market capitalization of $76.02 billion, a PE ratio of 31.01, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business’s 50-day moving average price is $589.61 and its two-hundred day moving average price is $562.56.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, analysts forecast that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.

About McKesson

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.