McKesson Co. (NYSE:MCK) Shares Sold by Strategy Asset Managers LLC

Strategy Asset Managers LLC reduced its stake in McKesson Co. (NYSE:MCK) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,435 shares of the company’s stock after selling 303 shares during the quarter. Strategy Asset Managers LLC’s holdings in McKesson were worth $818,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $1,200,361,000. Janus Henderson Group PLC increased its stake in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after acquiring an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in McKesson in the fourth quarter valued at $178,397,000. Raymond James Financial Inc. acquired a new position in shares of McKesson in the 4th quarter valued at $128,125,000. Finally, Boston Partners grew its holdings in shares of McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last three months. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.4 %

Shares of NYSE:MCK opened at $668.25 on Friday. The company has a market cap of $83.75 billion, a PE ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50 day moving average is $623.58 and its two-hundred day moving average is $578.83. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $672.00.

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%. As a group, equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

McKesson 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.