Denali Advisors LLC Has $1.73 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Denali Advisors LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,028 shares of the company’s stock after selling 81 shares during the period. Denali Advisors LLC’s holdings in McKesson were worth $1,726,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust bought a new position in McKesson in the fourth quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup decreased their target price 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. Finally, Morgan Stanley raised their price target on shares of 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. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock valued at $11,536,378 in the last three months. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.4 %

Shares of MCK opened at $624.53 on Thursday. The stock has a 50 day moving average of $592.07 and a 200 day moving average of $563.06. The company has a market capitalization of $78.27 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results 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%. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business 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 $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.