Napean Trading & Investment Co Singapore PTE Ltd Trims Holdings in McKesson Co. (NYSE:MCK)

Napean Trading & Investment Co Singapore PTE Ltd lowered its stake in shares of McKesson Co. (NYSE:MCK) by 25.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,619 shares of the company’s stock after selling 2,623 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in McKesson were worth $4,342,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new position in shares of McKesson during the fourth quarter valued at $28,000. Synergy Asset Management LLC bought a new position in shares of McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust purchased a new position in McKesson during the fourth quarter valued at approximately $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter worth about $31,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company boosted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two 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. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on 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 sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.0 %

Shares of MCK opened at $659.45 on Monday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $673.23. The firm has a market cap of $82.65 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s 50 day simple moving average is $616.14 and its 200-day simple moving average is $574.35.

McKesson (NYSE:MCK) last posted its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company 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 dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

McKesson Company 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.