Twin Capital Management Inc. Has $895,000 Stock Position in McKesson Co. (NYSE:MCK)

Twin Capital Management Inc. lowered its position in shares of McKesson Co. (NYSE:MCK) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,571 shares of the company’s stock after selling 29 shares during the quarter. Twin Capital Management Inc.’s holdings in McKesson were worth $895,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth about $33,000. Atala Financial Inc acquired a new stake in McKesson during the 4th quarter worth about $34,000. Finally, Graney & King LLC purchased a new position in McKesson during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred 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 approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on 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 owns 1,051 shares of the company’s stock, 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. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last ninety days. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. 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 research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Stock Performance

Shares of NYSE:MCK opened at $661.26 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The company has a market cap of $82.87 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.29 and a beta of 0.49. The stock’s 50-day moving average is $634.52 and its 200-day moving average is $587.00.

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

McKesson Announces Dividend

The business 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 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.