McKesson Co. (NYSE:MCK) Shares Sold by Cynosure Group LLC

Cynosure Group LLC lessened its holdings in McKesson Co. (NYSE:MCK) by 67.8% during the 4th quarter, Holdings Channel reports. The firm owned 515 shares of the company’s stock after selling 1,082 shares during the quarter. Cynosure Group LLC’s holdings in McKesson were worth $294,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCK. Huntington National Bank lifted its stake in McKesson by 2.1% in the 4th quarter. Huntington National Bank now owns 6,364 shares of the company’s stock valued at $3,627,000 after buying an additional 128 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of McKesson by 1.4% in the fourth quarter. Meeder Advisory Services Inc. now owns 3,773 shares of the company’s stock valued at $2,150,000 after acquiring an additional 52 shares in the last quarter. Boston Family Office LLC acquired a new stake in shares of McKesson during the fourth quarter valued at $202,000. Geode Capital Management LLC increased its position in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $661.00.

McKesson Trading Up 3.3 %

Shares of MCK stock opened at $716.71 on Friday. The company has a market cap of $89.82 billion, a PE ratio of 32.82, a P/E/G ratio of 1.29 and a beta of 0.49. The company’s fifty day simple moving average is $631.55 and its 200-day simple moving average is $583.78. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $726.56.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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%. Equities research 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 was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’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 transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the 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 $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.