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

Titleist Asset Management LLC lowered its position in McKesson Co. (NYSE:MCK) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,621 shares of the company’s stock after selling 150 shares during the quarter. Titleist Asset Management LLC’s holdings in McKesson were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter worth $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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. Finally, Bank of America reduced their target price 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. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $661.00.

McKesson Stock Performance

MCK opened at $682.41 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32. The company has a 50-day moving average of $633.37 and a 200-day moving average of $585.40. The company has a market capitalization of $85.52 billion, a P/E ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced 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, sell-side analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 over the last 90 days. Insiders own 0.11% of the company’s stock.

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.