Bowen Hanes & Co. Inc. Sells 50,585 Shares of McKesson Co. (NYSE:MCK)

Bowen Hanes & Co. Inc. lowered its position in McKesson Co. (NYSE:MCK) by 59.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,765 shares of the company’s stock after selling 50,585 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in McKesson were worth $19,813,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $29,000. Crews Bank & Trust bought a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson in the 4th quarter worth approximately $44,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $640.93 on Thursday. The stock has a fifty day moving average of $605.54 and a 200-day moving average of $569.47. The stock has a market capitalization 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 Co. has a 52 week low of $464.42 and a 52 week high of $663.61.

McKesson (NYSE:MCK) last released its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company raised their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.