McKesson Co. (NYSE:MCK) Position Lessened by Investment Management Associates Inc. ADV

Investment Management Associates Inc. ADV lessened its position in shares of McKesson Co. (NYSE:MCK) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,398 shares of the company’s stock after selling 1,277 shares during the quarter. McKesson comprises 6.6% of Investment Management Associates Inc. ADV’s holdings, making the stock its 9th biggest position. Investment Management Associates Inc. ADV’s holdings in McKesson were worth $15,045,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MCK. Compass Capital Corp MA ADV purchased a new stake in McKesson during the 4th quarter worth approximately $401,000. Centricity Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth about $488,000. One Day In July LLC acquired a new position in shares of McKesson in the fourth quarter valued at about $216,000. Forte Capital LLC ADV purchased a new position in shares of McKesson in the fourth quarter worth about $233,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of McKesson by 16.7% during the fourth quarter. Handelsbanken Fonder AB now owns 57,948 shares of the company’s stock worth $33,025,000 after purchasing an additional 8,304 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Trading Up 0.2 %

NYSE:MCK opened at $603.68 on Friday. The company has a market cap of $75.66 billion, a P/E ratio of 27.64, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average price is $588.60 and its 200-day moving average price is $562.48. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 13.00%.

McKesson 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.