McKesson Co. (NYSE:MCK) Stock Position Cut by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP reduced its stake in McKesson Co. (NYSE:MCK) by 46.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,281 shares of the company’s stock after selling 23,825 shares during the period. ExodusPoint Capital Management LP’s holdings in McKesson were worth $15,548,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MCK shares. Mizuho raised their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted 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. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $661.00.

McKesson Stock Performance

Shares of MCK opened at $716.71 on Friday. The company has a market capitalization of $89.82 billion, a PE ratio of 32.82, a PEG ratio of 1.29 and a beta of 0.49. The company’s 50 day moving average price is $631.55 and its 200 day moving average price is $583.78. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $726.56.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson’s dividend payout ratio is 13.00%.

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.