Csenge Advisory Group Has $1.10 Million Stake in McKesson Co. (NYSE:MCK)

Csenge Advisory Group trimmed its position in shares of McKesson Co. (NYSE:MCK) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,934 shares of the company’s stock after selling 482 shares during the period. Csenge Advisory Group’s holdings in McKesson were worth $1,102,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cibc World Market Inc. grew its stake in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares in the last quarter. Commerce Bank lifted its holdings in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after acquiring an additional 3,020 shares during the last quarter. West Oak Capital LLC lifted its holdings in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new position in shares of McKesson in the fourth quarter worth about $3,018,000. Finally, Ingalls & Snyder LLC lifted its holdings in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after acquiring an additional 1,047 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research reports. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Morgan Stanley raised their price objective 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, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 1,346 shares of company stock valued at $795,275. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Down 1.4 %

MCK stock opened at $593.82 on Tuesday. The firm has a market capitalization of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a 50-day simple moving average of $587.26 and a two-hundred day simple moving average of $562.38.

McKesson (NYSE:MCK) last posted its 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts anticipate that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.