Securian Asset Management Inc. Sells 334 Shares of McKesson Co. (NYSE:MCK)

Securian Asset Management Inc. lessened its stake in McKesson Co. (NYSE:MCK) by 4.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,876 shares of the company’s stock after selling 334 shares during the period. Securian Asset Management Inc.’s holdings in McKesson were worth $3,919,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cibc World Market Inc. grew its position in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after buying an additional 1,207 shares during the last quarter. Commerce Bank grew its position in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after buying an additional 3,020 shares during the last quarter. West Oak Capital LLC grew its position in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $3,018,000. Finally, Ingalls & Snyder LLC grew its position in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America dropped 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. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two equities 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 company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

MCK stock opened at $640.93 on Thursday. The stock’s 50 day simple moving average is $605.54 and its 200 day simple moving average is $569.47. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.61. The company has a market cap of $80.32 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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%. Equities analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. 0.11% of the stock is currently owned by insiders.

McKesson Company 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.