McKesson Co. (NYSE:MCK) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 33.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,920 shares of the company's stock after selling 3,910 shares during the quarter. Cumberland Partners Ltd's holdings in McKesson were worth $4,514,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. FMR LLC boosted its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after acquiring an additional 425,875 shares during the last quarter. Janus Henderson Group PLC grew its position in McKesson by 126.8% during the 3rd 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 during the period. Finally, Nordea Investment Management AB raised its position in 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 acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.8 %

MCK traded down $5.05 during trading on Friday, hitting $598.46. 366,823 shares of the stock were exchanged, compared to its average volume of 735,470. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock has a fifty day moving average price of $588.60 and a two-hundred day moving average price of $562.48. The firm has a market capitalization of $75.00 billion, a P/E ratio of 27.45, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts predict 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MCK shares. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business'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 transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock valued at $6,177,790 in the last ninety days. Insiders own 0.11% of the company's stock.

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.