3Chopt Investment Partners LLC Cuts Position in McKesson Co. (NYSE:MCK)

3Chopt Investment Partners LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,111 shares of the company’s stock after selling 47 shares during the period. McKesson makes up approximately 1.6% of 3Chopt Investment Partners LLC’s holdings, making the stock its 11th biggest holding. 3Chopt Investment Partners LLC’s holdings in McKesson were worth $4,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cibc World Market Inc. increased its stake in McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares during the last quarter. West Oak Capital LLC increased its position in shares of McKesson by 867.7% during the 4th 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 during the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson during the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC lifted its position in McKesson by 8.2% in the fourth 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 during the last quarter. Finally, Nordea Investment Management AB boosted its stake in McKesson by 20.0% during the fourth 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 period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCK shares. Bank of America raised their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Stock Performance

Shares of NYSE MCK opened at $690.43 on Friday. The firm has a fifty day moving average of $642.70 and a 200 day moving average of $593.06. The firm has a market cap of $86.53 billion, a PE ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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%. On average, equities analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’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 sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is owned by insiders.

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.