Tidal Investments LLC Sells 44,216 Shares of McKesson Co. (NYSE:MCK)

Tidal Investments LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 83.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,776 shares of the company’s stock after selling 44,216 shares during the period. Tidal Investments LLC’s holdings in McKesson were worth $5,002,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Frank Rimerman Advisors LLC boosted its holdings in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares in the last quarter. Hemington Wealth Management raised its position in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares during the period. First Western Trust Bank raised its position in shares of McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after purchasing an additional 18 shares during the period. Calamos Wealth Management LLC raised its position in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares during the period. Finally, Quent Capital LLC raised its position in shares of McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock worth $671,000 after purchasing an additional 20 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Bank of America upped their target price on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $686.69.

McKesson Price Performance

Shares of McKesson stock opened at $719.07 on Wednesday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The firm has a market cap of $89.96 billion, a PE ratio of 32.92, a P/E/G ratio of 1.29 and a beta of 0.53. The stock has a fifty day moving average price of $686.37 and a 200-day moving average price of $630.52.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same period last year, the firm posted $6.18 EPS. The business’s revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

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.