McKesson Co. (NYSE:MCK) Stock Position Cut by Capital International Investors

Capital International Investors lessened its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 27.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 147,874 shares of the company's stock after selling 54,868 shares during the quarter. Capital International Investors owned approximately 0.12% of McKesson worth $84,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cibc World Market Inc. lifted its position in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after acquiring an additional 1,207 shares in the last quarter. West Oak Capital LLC lifted its holdings in McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth about $3,018,000. Ingalls & Snyder LLC raised its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after buying an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after buying an additional 162,688 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 0.5 %

NYSE:MCK traded up $3.36 during trading hours on Friday, reaching $691.79. 277,796 shares of the stock were exchanged, compared to its average volume of 920,368. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The stock has a market capitalization of $86.70 billion, a P/E ratio of 31.68, a P/E/G ratio of 1.29 and a beta of 0.49. The firm has a 50 day simple moving average of $659.36 and a 200-day simple moving average of $605.06.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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%. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Bank of America lifted their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday, April 11th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $668.50.

McKesson Company 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.