Envestnet Asset Management Inc. Sells 19,739 Shares of McKesson Co. (NYSE:MCK)

Envestnet Asset Management Inc. trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 271,967 shares of the company's stock after selling 19,739 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of McKesson worth $154,997,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in McKesson in the fourth quarter valued at about $1,200,361,000. Proficio Capital Partners LLC purchased a new position in McKesson in the fourth quarter valued at approximately $178,397,000. Alliancebernstein L.P. lifted its stake in McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Raymond James Financial Inc. bought a new position in McKesson during the fourth quarter valued at $128,125,000. Finally, Boston Partners increased its position in McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after buying an additional 216,432 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

NYSE MCK traded up $11.10 during trading on Friday, reaching $690.43. The company's stock had a trading volume of 841,601 shares, compared to its average volume of 881,074. The firm has a fifty day moving average of $642.70 and a 200 day moving average of $593.86. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The stock has a market capitalization of $86.53 billion, a PE ratio of 31.61, a P/E/G ratio of 1.29 and a beta of 0.49.

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McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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%. Research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCK shares. Bank of America increased their price target on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Three 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 stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average target price of $668.50.

Insider Buying and Selling

In other McKesson news, 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 transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87 % 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 worth $10,855,706. Corporate 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.