Capital Management Associates NY Cuts Holdings in McKesson Co. (NYSE:MCK)

Capital Management Associates NY trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 14.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,050 shares of the company’s stock after selling 350 shares during the period. McKesson comprises 1.4% of Capital Management Associates NY’s investment portfolio, making the stock its 29th biggest holding. Capital Management Associates NY’s holdings in McKesson were worth $1,168,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCK. Oppenheimer Asset Management Inc. raised its stake in shares of McKesson by 3.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 3,090 shares of the company’s stock worth $1,528,000 after buying an additional 98 shares in the last quarter. Huntington National Bank increased its stake in McKesson by 5.9% in the 3rd quarter. Huntington National Bank now owns 6,236 shares of the company’s stock valued at $3,083,000 after purchasing an additional 347 shares in the last quarter. Metis Global Partners LLC increased its stake in McKesson by 2.1% in the 3rd quarter. Metis Global Partners LLC now owns 5,840 shares of the company’s stock valued at $2,887,000 after purchasing an additional 120 shares in the last quarter. Impax Asset Management Group plc increased its stake in McKesson by 64.1% in the 3rd quarter. Impax Asset Management Group plc now owns 1,805 shares of the company’s stock valued at $892,000 after purchasing an additional 705 shares in the last quarter. Finally, King Wealth Management Group purchased a new position in McKesson in the 3rd quarter valued at approximately $264,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.1 %

MCK stock opened at $650.96 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $663.62. The stock’s fifty day simple moving average is $608.54 and its 200-day simple moving average is $570.71. The stock has a market capitalization of $81.58 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction 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 transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.