Magnetar Financial LLC Trims Position in McKesson Co. (NYSE:MCK)

Magnetar Financial LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 97.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,621 shares of the company's stock after selling 158,264 shares during the period. Magnetar Financial LLC's holdings in McKesson were worth $2,634,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MCK. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc acquired a new position in shares of McKesson during the fourth quarter worth approximately $34,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the 4th quarter valued at $44,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % 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. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

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McKesson Stock Up 0.3 %

MCK traded up $1.85 during trading on Tuesday, hitting $662.71. 710,699 shares of the company traded hands, compared to its average volume of 800,158. McKesson Co. has a one year low of $464.42 and a one year high of $670.79. The stock's fifty day moving average is $617.68 and its 200 day moving average is $575.39. The firm has a market cap of $83.05 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson's payout ratio is presently 13.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCK. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Finally, Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $649.36.

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.