Federated Investors Inc. PA reduced its stake in shares of McKesson Co. (NYSE:MCK) by 11.0% during the fourth quarter, Holdings Channel reports. The firm owned 5,188 shares of the company’s stock after selling 641 shares during the period. Federated Investors Inc. PA’s holdings in McKesson were worth $729,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Nadler Financial Group Inc. increased its position in McKesson by 0.5% in the third quarter. Nadler Financial Group Inc. now owns 1,337 shares of the company’s stock valued at $223,000 after buying an additional 7 shares during the period. Quadrant Capital Group LLC increased its position in McKesson by 0.6% in the third quarter. Quadrant Capital Group LLC now owns 1,726 shares of the company’s stock valued at $281,000 after buying an additional 10 shares during the period. Canandaigua National Bank & Trust Co. increased its position in McKesson by 1.1% in the third quarter. Canandaigua National Bank & Trust Co. now owns 1,345 shares of the company’s stock valued at $224,000 after buying an additional 15 shares during the period. Pegasus Partners Ltd. increased its position in McKesson by 0.5% in the third quarter. Pegasus Partners Ltd. now owns 3,495 shares of the company’s stock valued at $583,000 after buying an additional 17 shares during the period. Finally, Regentatlantic Capital LLC increased its position in McKesson by 0.8% in the third quarter. Regentatlantic Capital LLC now owns 3,148 shares of the company’s stock valued at $525,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 87.81% of the company’s stock.
Shares of McKesson Co. (NYSE:MCK) opened at 147.17 on Tuesday. The stock has a 50 day moving average of $145.75 and a 200-day moving average of $151.11. McKesson Co. has a 1-year low of $114.53 and a 1-year high of $199.43. The firm has a market capitalization of $31.21 billion, a P/E ratio of 17.46 and a beta of 1.06.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Wednesday, March 1st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.76%. McKesson’s payout ratio is 13.25%.
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Several equities analysts recently commented on the stock. Leerink Swann set a $155.00 price target on shares of McKesson and gave the company a “hold” rating in a research note on Saturday, January 21st. Vetr downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating and set a $163.26 price target on the stock. in a research note on Monday, December 12th. JPMorgan Chase & Co. downgraded shares of McKesson from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $171.00 to $169.00 in a research note on Thursday, January 5th. Credit Suisse Group AG restated a “sell” rating on shares of McKesson in a research note on Friday, March 3rd. Finally, Citigroup Inc upped their price target on shares of McKesson from $169.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, March 6th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $172.76.
In other news, Chairman John H. Hammergren sold 100,500 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $150.49, for a total transaction of $15,124,245.00. Following the completion of the sale, the chairman now directly owns 57,900 shares in the company, valued at approximately $8,713,371. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.15% of the company’s stock.
McKesson Company Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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