Bailard Inc. Has $1.15 Million Position in McKesson Co. (NYSE:MCK)

Bailard Inc. reduced its stake in shares of McKesson Co. (NYSE:MCK) by 36.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,012 shares of the company’s stock after selling 1,151 shares during the quarter. Bailard Inc.’s holdings in McKesson were worth $1,147,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MCK. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the third quarter valued at approximately $29,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter valued at approximately $33,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the third quarter valued at approximately $31,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted 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. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Wells Fargo & Company lifted 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. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

MCK opened at $645.34 on Tuesday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $648.47. The firm’s fifty day moving average price is $595.50 and its two-hundred day moving average price is $564.96. The company has a market capitalization of $80.88 billion, a P/E ratio of 29.55, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued 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%. On average, equities research analysts expect that McKesson Co. will post 32.77 EPS 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 is presently 13.00%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % 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 the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $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 worth $11,536,378. Corporate 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.