McKesson Co. (NYSE:MCK) Holdings Trimmed by Machina Capital S.A.S.

Machina Capital S.A.S. trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 52.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,266 shares of the company’s stock after selling 2,517 shares during the period. Machina Capital S.A.S.’s holdings in McKesson were worth $1,291,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MCK. FMR LLC lifted its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of McKesson during the fourth quarter valued at $178,397,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of McKesson during the fourth quarter valued at $128,125,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCK shares. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, 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 note on Monday, January 6th. 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 an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

MCK opened at $644.92 on Friday. The company has a market capitalization of $80.82 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average of $600.67 and a 200-day moving average of $567.36. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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 expect that McKesson Co. will post 32.77 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm’s 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 sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were 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 in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. Insiders own 0.11% of the company’s stock.

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.