McKesson Co. (NYSE:MCK) Position Trimmed by Kintegral Advisory LLC

Kintegral Advisory LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,126 shares of the company’s stock after selling 52 shares during the quarter. Kintegral Advisory LLC’s holdings in McKesson were worth $643,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dakota Wealth Management grew its holdings in shares of McKesson by 9.1% during the 3rd quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock valued at $761,000 after acquiring an additional 128 shares in the last quarter. Highland Capital Management LLC boosted its position in McKesson by 19.7% during the third quarter. Highland Capital Management LLC now owns 9,375 shares of the company’s stock valued at $4,635,000 after purchasing an additional 1,545 shares during the last quarter. Allworth Financial LP grew its stake in McKesson by 0.8% in the third quarter. Allworth Financial LP now owns 2,894 shares of the company’s stock valued at $1,431,000 after purchasing an additional 23 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in McKesson in the 3rd quarter worth about $306,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of McKesson by 34.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,112 shares of the company’s stock worth $7,378,000 after purchasing an additional 3,853 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America lowered their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of McKesson 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 sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock worth $6,177,790 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $597.68 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market capitalization of $74.91 billion, a PE ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. The business’s 50-day simple moving average is $589.02 and its 200-day simple moving average is $562.01.

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%. Research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) 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.