Atalanta Sosnoff Capital LLC Reduces Holdings in McKesson Co. (NYSE:MCK)

Atalanta Sosnoff Capital LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 1.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,320 shares of the company’s stock after selling 1,141 shares during the period. Atalanta Sosnoff Capital LLC owned about 0.06% of McKesson worth $41,786,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Millstone Evans Group LLC bought a new stake in shares of McKesson in the fourth quarter worth $28,000. Synergy Asset Management LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc acquired a new position in shares of McKesson in the 4th quarter worth approximately $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related 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 value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $5,358,588.39. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.1 %

Shares of NYSE:MCK opened at $707.28 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market cap of $88.64 billion, a P/E ratio of 32.38, a P/E/G ratio of 1.29 and a beta of 0.49. The company has a 50 day moving average of $671.24 and a 200-day moving average of $613.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. Equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Three equities research 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $681.00.

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.