McKesson Co. (NYSE:MCK) Shares Sold by Excalibur Management Corp

Excalibur Management Corp lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 1.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,404 shares of the company’s stock after selling 18 shares during the quarter. Excalibur Management Corp’s holdings in McKesson were worth $800,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter worth about $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.3 %

Shares of NYSE:MCK opened at $662.71 on Wednesday. The firm has a 50-day simple moving average of $619.05 and a 200 day simple moving average of $576.50. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79. The company has a market cap of $83.05 billion, a PE ratio of 30.34, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 sale, 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 position. 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 quarter. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.