Martin & Co. Inc. TN Sells 523 Shares of McKesson Co. (NYSE:MCK)

Martin & Co. Inc. TN decreased its position in shares of McKesson Co. (NYSE:MCK) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,804 shares of the company’s stock after selling 523 shares during the quarter. McKesson makes up 1.7% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 15th largest position. Martin & Co. Inc. TN’s holdings in McKesson were worth $6,727,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. FMR LLC increased its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. Geode Capital Management LLC increased its stake in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Performance

MCK stock opened at $593.82 on Monday. The stock has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a 50 day moving average price of $587.26 and a two-hundred day moving average price of $562.38.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts forecast that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 1,346 shares of company stock worth $795,275. 0.11% of the stock is currently owned by corporate insiders.

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.