McKesson Co. (NYSE:MCK) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 27.9% in the fourth quarter, Holdings Channel reports. The fund owned 3,898 shares of the company’s stock after selling 1,510 shares during the period. Meridian Investment Counsel Inc.’s holdings in McKesson were worth $2,222,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its holdings in McKesson by 50.0% in the third quarter. Fisher Asset Management LLC now owns 1,242 shares of the company’s stock valued at $614,000 after acquiring an additional 414 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of McKesson by 20.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company’s stock worth $274,000 after purchasing an additional 94 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of McKesson by 18.8% in the third quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company’s stock valued at $2,807,000 after acquiring an additional 900 shares in the last quarter. Financial Counselors Inc. boosted its stake in shares of McKesson by 4.4% during the 3rd quarter. Financial Counselors Inc. now owns 916 shares of the company’s stock worth $453,000 after purchasing an additional 39 shares during the last quarter. Finally, Icon Wealth Advisors LLC grew its position in shares of McKesson by 18.9% in the third quarter. Icon Wealth Advisors LLC now owns 498 shares of the company’s stock valued at $246,000 after purchasing an additional 79 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.4 %

NYSE:MCK opened at $668.25 on Monday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $673.00. The stock’s 50 day moving average price is $623.58 and its two-hundred day moving average price is $579.83. The firm has a market capitalization of $83.75 billion, a price-to-earnings ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is currently owned by 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.