Benchmark Investment Advisors LLC Sells 381 Shares of McKesson Co. (NYSE:MCK)

Benchmark Investment Advisors LLC decreased its position in McKesson Co. (NYSE:MCK) by 24.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,178 shares of the company’s stock after selling 381 shares during the quarter. Benchmark Investment Advisors LLC’s holdings in McKesson were worth $671,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cibc World Market Inc. lifted its position in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares during the period. West Oak Capital LLC lifted its holdings in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $3,018,000. Ingalls & Snyder LLC increased its position in McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $682.41 on Friday. The stock has a market capitalization of $85.52 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32. The company’s fifty day simple moving average is $633.37 and its 200-day simple moving average is $585.40.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MCK shares. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $661.00.

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.