Manchester Capital Management LLC Sells 551 Shares of McKesson Co. (NYSE:MCK)

Manchester Capital Management LLC trimmed its position in McKesson Co. (NYSE:MCK - Free Report) by 61.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339 shares of the company's stock after selling 551 shares during the quarter. Manchester Capital Management LLC's holdings in McKesson were worth $193,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new stake in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth approximately $33,000. Finally, Bruce G. Allen Investments LLC increased its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after buying an additional 28 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Wells Fargo & Company boosted their target price on McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a research report on Friday, December 13th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $645.79.

McKesson Stock Performance

Shares of McKesson stock traded up $2.99 during trading on Wednesday, hitting $602.41. The company's stock had a trading volume of 738,160 shares, compared to its average volume of 752,071. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The company has a market capitalization of $75.50 billion, a PE ratio of 27.58, a P/E/G ratio of 1.27 and a beta of 0.52. The company has a fifty day simple moving average of $587.59 and a two-hundred day simple moving average of $561.91.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on 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 owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock valued at $6,177,790 over the last 90 days. 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.