Braun Stacey Associates Inc. Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Braun Stacey Associates Inc. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,755 shares of the company's stock after selling 7,696 shares during the quarter. Braun Stacey Associates Inc.'s holdings in McKesson were worth $22,087,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MCK. International Assets Investment Management LLC raised its holdings in McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC raised its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Janus Henderson Group PLC raised its holdings in McKesson by 126.8% in the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock worth $283,903,000 after purchasing an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,307 shares of company stock worth $6,177,790. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MCK. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $645.79.

McKesson Price Performance

NYSE:MCK traded down $5.83 during midday trading on Friday, hitting $597.68. The company's stock had a trading volume of 671,026 shares, compared to its average volume of 745,545. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm's 50 day moving average is $589.02 and its 200-day moving average is $562.38. The firm has a market cap of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

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 given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson's dividend payout ratio is presently 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.