Meyer Handelman Co. Sells 1,253 Shares of McKesson Co. (NYSE:MCK)

Meyer Handelman Co. cut its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,239 shares of the company's stock after selling 1,253 shares during the quarter. McKesson accounts for about 2.2% of Meyer Handelman Co.'s portfolio, making the stock its 10th biggest holding. Meyer Handelman Co. owned about 0.09% of McKesson worth $63,396,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MCK. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC raised its stake in shares of McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after purchasing an additional 28 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Leerink Partners reduced their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average price target of $646.14.

McKesson Stock Down 1.7 %

Shares of MCK traded down $9.96 during midday trading on Wednesday, reaching $583.77. 485,543 shares of the stock were exchanged, compared to its average volume of 622,054. The stock's 50 day simple moving average is $595.09 and its 200 day simple moving average is $560.90. 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 $74.10 billion, a P/E ratio of 30.23, a PEG ratio of 1.25 and a beta of 0.52.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a yield of 0.49%. McKesson's dividend payout ratio is presently 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. The trade was 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. Corporate insiders own 0.11% of the company's stock.

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.