McKesson Co. (NYSE:MCK) Shares Sold by GeoWealth Management LLC

GeoWealth Management LLC reduced its position in shares of McKesson Co. (NYSE:MCK) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,577 shares of the company’s stock after selling 102 shares during the period. GeoWealth Management LLC’s holdings in McKesson were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Norges Bank acquired a new position in shares of McKesson in the 4th quarter worth approximately $1,200,361,000. Marshall Wace LLP grew its position in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after buying an additional 358,322 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of McKesson in the fourth quarter valued at $178,397,000. Alliancebernstein L.P. lifted its position in shares of McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after acquiring an additional 272,068 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of McKesson during the 4th quarter worth $128,125,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.4 %

MCK stock opened at $697.22 on Friday. The company has a market capitalization of $87.38 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 1.29 and a beta of 0.49. The firm has a 50 day moving average of $651.89 and a two-hundred day moving average of $599.41. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK) last posted its 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, research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $668.50.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock worth $10,855,706 over the last ninety days. Company insiders own 0.11% of the company’s stock.

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.