McKesson Co. (NYSE:MCK) Shares Sold by Zacks Investment Management

Zacks Investment Management lowered its position in shares of McKesson Co. (NYSE:MCK) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,131 shares of the company’s stock after selling 1,379 shares during the period. Zacks Investment Management’s holdings in McKesson were worth $7,484,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its stake in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after buying an additional 358,322 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of McKesson by 4.7% during the fourth quarter. NewEdge Advisors LLC now owns 13,957 shares of the company’s stock worth $7,954,000 after acquiring an additional 630 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in shares of McKesson by 4.7% in the 4th quarter. Evergreen Capital Management LLC now owns 8,850 shares of the company’s stock valued at $5,050,000 after acquiring an additional 396 shares during the period. United Capital Financial Advisors LLC raised its position in McKesson by 4.4% in the 4th quarter. United Capital Financial Advisors LLC now owns 3,542 shares of the company’s stock valued at $2,019,000 after purchasing an additional 149 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in McKesson by 7.6% in the 4th quarter. Gabelli Funds LLC now owns 16,685 shares of the company’s stock valued at $9,509,000 after purchasing an additional 1,185 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.0 %

MCK stock opened at $692.54 on Thursday. The company has a market cap of $86.79 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 1.29 and a beta of 0.49. The firm has a 50 day moving average of $648.28 and a 200-day moving average of $596.64. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Bank of America boosted their price objective on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Finally, Evercore ISI raised their target price 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. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $668.50.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction 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. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 over the last ninety days. 0.11% of the stock is currently owned by insiders.

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.