Metis Global Partners LLC Has $3.05 Million Position in McKesson Co. (NYSE:MCK)

Metis Global Partners LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,357 shares of the company’s stock after selling 483 shares during the period. Metis Global Partners LLC’s holdings in McKesson were worth $3,053,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the fourth quarter valued at $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the fourth quarter valued at $33,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson during the fourth quarter valued at $44,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 3.2 %

Shares of MCK stock opened at $640.82 on Friday. The stock has a 50-day moving average price of $594.13 and a 200 day moving average price of $564.17. The firm has a market cap of $80.31 billion, a price-to-earnings ratio of 29.34, 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 $641.70.

McKesson (NYSE:MCK) last announced 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 181.26% and a net margin of 0.82%. Sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given 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 0.44%. McKesson’s payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.