McKesson Co. (NYSE:MCK) Stock Position Decreased by Bey Douglas LLC

Bey Douglas LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,711 shares of the company’s stock after selling 18 shares during the period. McKesson makes up about 1.8% of Bey Douglas LLC’s holdings, making the stock its 19th biggest position. Bey Douglas LLC’s holdings in McKesson were worth $2,115,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC boosted its holdings in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 1,346 shares of company stock valued at $795,275. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Up 1.3 %

NYSE MCK opened at $602.73 on Friday. The stock has a market capitalization of $76.51 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a 50 day moving average price of $587.56 and a two-hundred day moving average price of $562.90.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 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.