McKesson Co. (NYSE:MCK) Shares Sold by Amundi

Amundi cut its holdings in shares of McKesson Co. (NYSE:MCK) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 638,021 shares of the company’s stock after selling 127,264 shares during the period. Amundi owned about 0.50% of McKesson worth $376,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the third quarter worth about $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter worth about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.5 %

MCK stock opened at $644.92 on Friday. The company has a market cap of $80.82 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $653.92. The firm has a 50-day moving average of $600.67 and a two-hundred day moving average of $567.49.

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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MCK. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’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 transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in 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.