McKesson Co. (NYSE:MCK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its holdings in McKesson Co. (NYSE:MCK - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,800 shares of the company's stock after selling 1,017 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in McKesson were worth $7,865,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Choate Investment Advisors boosted its stake in shares of McKesson by 5.5% during the 4th quarter. Choate Investment Advisors now owns 2,361 shares of the company's stock worth $1,346,000 after acquiring an additional 123 shares in the last quarter. Natixis Advisors LLC boosted its position in McKesson by 14.6% during the fourth quarter. Natixis Advisors LLC now owns 207,617 shares of the company's stock worth $118,323,000 after purchasing an additional 26,515 shares in the last quarter. Frank Rimerman Advisors LLC grew its holdings in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the last quarter. Copperwynd Financial LLC grew its holdings in McKesson by 1.0% in the fourth quarter. Copperwynd Financial LLC now owns 2,294 shares of the company's stock valued at $1,307,000 after purchasing an additional 23 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd increased its position in shares of McKesson by 55.6% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 1,400 shares of the company's stock valued at $798,000 after buying an additional 500 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred 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 $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 over the last three months. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company increased 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. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average price target of $649.36.

McKesson Trading Down 1.0 %

MCK traded down $6.91 during midday trading on Friday, hitting $659.45. The company's stock had a trading volume of 1,969,536 shares, compared to its average volume of 798,771. The firm has a market cap of $82.65 billion, a P/E ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $686.56. The firm has a 50-day moving average price of $614.59 and a two-hundred day moving average price of $573.65.

McKesson (NYSE:MCK - Get Free Report) last issued 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) 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.