Stevens Capital Management LP Invests $320,000 in McKesson Co. (NYSE:MCK)

Stevens Capital Management LP bought a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 561 shares of the company’s stock, valued at approximately $320,000.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $178,397,000. Finally, Raymond James Financial Inc. bought a new position in shares of McKesson during the 4th quarter worth approximately $128,125,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $661.56 on Tuesday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79. The firm has a market capitalization of $82.91 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50 day simple moving average is $617.68 and its 200 day simple moving average is $575.39.

McKesson (NYSE:MCK) last posted its quarterly 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 0.82% and a negative return on equity of 181.26%. Sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 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.