McKesson Co. (NYSE:MCK) Stake Reduced by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 52.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,595 shares of the company’s stock after selling 6,211 shares during the period. Y Intercept Hong Kong Ltd’s holdings in McKesson were worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the 3rd quarter worth about $29,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth about $33,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the third quarter valued at about $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCK. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Performance

NYSE:MCK opened at $604.90 on Tuesday. The company has a market capitalization of $75.81 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.29 and a beta of 0.52. The stock’s 50 day moving average price is $589.71 and its 200 day moving average price is $562.02. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Transactions at McKesson

In other news, 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 transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction 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. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is owned by corporate insiders.

McKesson 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.