Blue Trust Inc. Sells 1,814 Shares of McKesson Co. (NYSE:MCK)

Blue Trust Inc. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,548 shares of the company's stock after selling 1,814 shares during the period. Blue Trust Inc.'s holdings in McKesson were worth $3,162,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at approximately $29,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter valued at $33,000. Wolff Wiese Magana LLC increased its stake in shares of 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 purchasing an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

Shares of MCK traded up $2.99 during trading hours on Wednesday, hitting $602.41. 738,215 shares of the company were exchanged, compared to its average volume of 752,075. The company has a market cap of $75.50 billion, a PE ratio of 27.58, a PEG ratio of 1.27 and a beta of 0.52. The firm's 50 day moving average is $587.59 and its 200-day moving average is $561.91. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson's payout ratio is 13.00%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price for the company. Finally, Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $645.79.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on 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 directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock worth $6,177,790. Corporate insiders own 0.11% of the company's stock.

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.