Sentry Investment Management LLC Lowers Holdings in McKesson Co. (NYSE:MCK)

Sentry Investment Management LLC cut its holdings in McKesson Co. (NYSE:MCK) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 707 shares of the company’s stock after selling 76 shares during the period. Sentry Investment Management LLC’s holdings in McKesson were worth $327,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. bought a new position in McKesson during the first quarter valued at approximately $46,000. Synovus Financial Corp raised its position in McKesson by 4.0% during the first quarter. Synovus Financial Corp now owns 2,192 shares of the company’s stock valued at $673,000 after purchasing an additional 85 shares during the period. Prudential PLC bought a new position in shares of McKesson during the 1st quarter valued at approximately $1,610,000. Cetera Investment Advisers boosted its stake in McKesson by 17.8% during the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company’s stock worth $3,012,000 after buying an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in shares of McKesson in the first quarter valued at $598,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCK shares. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus boosted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

McKesson Price Performance

NYSE MCK opened at $522.68 on Tuesday. The company has a market cap of $68.69 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The stock’s 50 day simple moving average is $523.34 and its 200-day simple moving average is $484.53.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.90 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

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.