Tacita Capital Inc Lowers Position in McKesson Co. (NYSE:MCK)

Tacita Capital Inc lessened its holdings in McKesson Co. (NYSE:MCK) by 27.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 130 shares of the company’s stock after selling 50 shares during the period. Tacita Capital Inc’s holdings in McKesson were worth $74,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth $29,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter worth $33,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth $31,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $645.34 on Tuesday. The stock has a market capitalization of $80.88 billion, a PE ratio of 29.55, 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 $648.47. The business’s 50-day moving average is $595.50 and its 200 day moving average is $564.96.

McKesson (NYSE:MCK) last posted its earnings results 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, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on MCK. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock valued at $11,536,378 over the last ninety days. 0.11% of the stock is owned by insiders.

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.