McKesson Co. (NYSE:MCK) is InTrack Investment Management Inc's 9th Largest Position

InTrack Investment Management Inc cut its stake in McKesson Co. (NYSE:MCK - Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,940 shares of the company's stock after selling 512 shares during the quarter. McKesson makes up approximately 2.0% of InTrack Investment Management Inc's investment portfolio, making the stock its 9th largest position. InTrack Investment Management Inc's holdings in McKesson were worth $2,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Distillate Capital Partners LLC boosted its holdings in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock worth $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its stake in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after acquiring an additional 1,393 shares during the period. Commerce Bank increased its stake in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company's stock valued at $77,516,000 after purchasing an additional 3,020 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in McKesson in the 2nd quarter worth about $12,331,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of NYSE MCK traded down $2.50 during trading on Friday, hitting $592.69. 686,346 shares of the company were exchanged, compared to its average volume of 622,630. The company has a fifty day moving average price of $595.11 and a 200-day moving average price of $561.17. The firm has a market capitalization of $75.24 billion, a PE ratio of 30.69, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued 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 company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.23 earnings per share. Research analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given 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 yield of 0.48%. McKesson's dividend payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MCK. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Baird R W raised shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Evercore ISI upped their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. 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 note on Friday, January 10th. Finally, Bank of America reduced their price target on shares of 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, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $646.14.

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.