McKesson Co. (NYSE:MCK) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its position in shares of McKesson Co. (NYSE:MCK) by 91.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 225 shares of the company’s stock after selling 2,400 shares during the period. Picton Mahoney Asset Management’s holdings in McKesson were worth $128,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at approximately $29,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter worth approximately $33,000. Atala Financial Inc purchased a new stake in McKesson in the fourth quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $650.96 on Monday. The stock has a 50-day simple moving average of $608.54 and a 200-day simple moving average of $570.95. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $663.62. The stock has a market capitalization of $81.58 billion, a PE ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. Analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

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.