Advisors Asset Management Inc. Has $5.48 Million Stock Position in McKesson Co. (NYSE:MCK)

Advisors Asset Management Inc. reduced its position in McKesson Co. (NYSE:MCK - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,622 shares of the company's stock after selling 1,849 shares during the quarter. Advisors Asset Management Inc.'s holdings in McKesson were worth $5,484,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter worth $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Atala Financial Inc bought a new position in shares of McKesson in the 4th quarter worth about $34,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the third quarter valued at approximately $31,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

MCK has been the subject of several recent research reports. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two equities research 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.36.

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McKesson Stock Performance

Shares of NYSE:MCK traded up $0.39 during midday trading on Monday, reaching $661.56. The company had a trading volume of 775,431 shares, compared to its average volume of 800,762. The company has a fifty day simple moving average of $616.14 and a two-hundred day simple moving average of $574.35. The firm has a market cap of $82.91 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth 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 $673.23.

McKesson (NYSE:MCK - Get Free Report) last announced 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%. Analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson's dividend payout ratio is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was 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. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,689 shares of company stock valued at $11,187,351. 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.