International Assets Investment Management LLC Cuts Holdings in McKesson Co. (NYSE:MCK)

International Assets Investment Management LLC cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 99.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,531 shares of the company's stock after selling 805,347 shares during the quarter. International Assets Investment Management LLC's holdings in McKesson were worth $867,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the third quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the third quarter worth $40,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the second quarter worth $53,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research note on Friday, December 13th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $646.14.

McKesson Price Performance

Shares of McKesson stock traded down $8.53 during trading hours on Friday, hitting $581.73. The company had a trading volume of 597,052 shares, compared to its average volume of 615,492. The company's 50-day moving average is $591.44 and its two-hundred day moving average is $561.65. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market cap of $73.84 billion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business's revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 earnings per share. Sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson's payout ratio is 14.71%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by insiders.

McKesson 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.