Cigna Investments Inc. New Sells 28 Shares of McKesson Co. (NYSE:MCK)

Cigna Investments Inc. New decreased its holdings in McKesson Co. (NYSE:MCK) by 2.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,331 shares of the company’s stock after selling 28 shares during the period. Cigna Investments Inc. New’s holdings in McKesson were worth $759,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their target price 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. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $645.79.

McKesson Stock Performance

NYSE MCK opened at $603.33 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a 50-day simple moving average of $588.40 and a 200 day simple moving average of $562.55. The company has a market capitalization of $76.59 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts forecast that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

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.