Seascape Capital Management Has $975,000 Holdings in McKesson Co. (NYSE:MCK)

Seascape Capital Management decreased its position in shares of McKesson Co. (NYSE:MCK) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,711 shares of the company’s stock after selling 48 shares during the period. Seascape Capital Management’s holdings in McKesson were worth $975,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the third quarter worth about $31,000. Synergy Asset Management LLC bought a new position in McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the fourth quarter worth $33,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK opened at $593.82 on Friday. The business has a fifty day simple moving average of $587.26 and a 200 day simple moving average of $563.09. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a market capitalization of $74.42 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last released 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

Several research firms have weighed in on MCK. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Buying and Selling

In other McKesson news, 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 sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 1,346 shares of company stock valued at $795,275 over the last quarter. 0.11% of the stock is owned by company insiders.

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.