McKesson Co. (NYSE:MCK) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 34.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,049 shares of the company's stock after selling 2,145 shares during the quarter. Guggenheim Capital LLC's holdings in McKesson were worth $2,308,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cibc World Market Inc. raised its stake in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. West Oak Capital LLC raised its position in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after buying an additional 2,690 shares during the last quarter. Brentview Investment Management LLC purchased a new position in shares of McKesson during the fourth quarter valued at approximately $3,018,000. Ingalls & Snyder LLC lifted its stake in shares of McKesson by 8.2% during 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 period. Finally, Nordea Investment Management AB boosted 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 worth $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. 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 shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Three 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 company. According to MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

McKesson Price Performance

MCK traded down $2.92 on Wednesday, reaching $692.25. The company's stock had a trading volume of 843,066 shares, compared to its average volume of 889,025. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32. The business's 50 day moving average is $655.50 and its 200 day moving average is $603.03. The stock has a market cap of $86.76 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

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