Insight 2811 Inc. Sells 72 Shares of McKesson Co. (NYSE:MCK)

Insight 2811 Inc. cut its position in shares of McKesson Co. (NYSE:MCK) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 769 shares of the company’s stock after selling 72 shares during the period. Insight 2811 Inc.’s holdings in McKesson were worth $438,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. boosted its position in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares during the last quarter. West Oak Capital LLC raised its stake in McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC bought a new position in McKesson during the fourth quarter valued at $3,018,000. Ingalls & Snyder LLC grew its stake in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last three months. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of analyst reports. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Two investment 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.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

McKesson Price Performance

Shares of MCK opened at $661.56 on Tuesday. The firm has a market capitalization of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The company has a 50-day moving average of $617.68 and a 200 day moving average of $575.39.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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 paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

About McKesson

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.