Stanley Capital Management LLC Sells 7,700 Shares of McKesson Co. (NYSE:MCK)

Stanley Capital Management LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,500 shares of the company’s stock after selling 7,700 shares during the quarter. McKesson accounts for approximately 3.7% of Stanley Capital Management LLC’s portfolio, making the stock its 9th largest holding. Stanley Capital Management LLC’s holdings in McKesson were worth $19,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of McKesson during the 4th quarter worth approximately $268,000. Strategic Wealth Partners Ltd. grew its stake in shares of McKesson by 42.7% during the 4th quarter. Strategic Wealth Partners Ltd. now owns 942 shares of the company’s stock worth $568,000 after purchasing an additional 282 shares during the period. Toronto Dominion Bank grew its stake in shares of McKesson by 23.5% during the 4th quarter. Toronto Dominion Bank now owns 55,311 shares of the company’s stock worth $31,522,000 after purchasing an additional 10,532 shares during the period. Siemens Fonds Invest GmbH grew its stake in shares of McKesson by 623.3% during the 4th quarter. Siemens Fonds Invest GmbH now owns 31,470 shares of the company’s stock worth $17,935,000 after purchasing an additional 27,119 shares during the period. Finally, SGL Investment Advisors Inc. purchased a new position in shares of McKesson during the 4th quarter valued at approximately $752,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Finally, StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Stock Up 2.3%

NYSE MCK opened at $723.05 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.48. The business’s fifty day simple moving average is $683.14 and its 200-day simple moving average is $627.61. The firm has a market cap of $90.62 billion, a PE ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter in the previous year, the firm earned $6.18 EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

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.