Stratos Investment Management LLC Decreases Stock Position in McKesson Co. (NYSE:MCK)

Stratos Investment Management LLC trimmed its stake in McKesson Co. (NYSE:MCK) by 14.2% in the 4th quarter, HoldingsChannel reports. The firm owned 940 shares of the company’s stock after selling 156 shares during the period. Stratos Investment Management LLC’s holdings in McKesson were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of McKesson by 206.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock valued at $269,000 after purchasing an additional 310 shares during the last quarter. Czech National Bank raised its position in shares of McKesson by 6.6% during the 3rd quarter. Czech National Bank now owns 26,416 shares of the company’s stock valued at $13,061,000 after buying an additional 1,645 shares in the last quarter. Kesler Norman & Wride LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at about $404,000. Brookstone Capital Management raised its position in McKesson by 15.2% in the 3rd quarter. Brookstone Capital Management now owns 7,336 shares of the company’s stock worth $3,627,000 after purchasing an additional 968 shares during the period. Finally, Gratus Wealth Advisors LLC raised its position in McKesson by 5.1% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 5,267 shares of the company’s stock worth $2,547,000 after purchasing an additional 255 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Performance

Shares of McKesson stock opened at $605.37 on Thursday. The company has a market capitalization of $76.85 billion, a P/E ratio of 31.35, a PEG ratio of 1.29 and a beta of 0.52. The company’s fifty day moving average is $590.03 and its two-hundred day moving average is $562.26. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. As a group, equities analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

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.