Napean Trading & Investment Co Singapore PTE Ltd Sells 2,623 Shares of McKesson Co. (NYSE:MCK)

Napean Trading & Investment Co Singapore PTE Ltd lessened its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 25.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,619 shares of the company's stock after selling 2,623 shares during the period. Napean Trading & Investment Co Singapore PTE Ltd's holdings in McKesson were worth $4,342,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. lifted its stake in McKesson by 12.6% in the third quarter. Pacer Advisors Inc. now owns 16,344 shares of the company's stock worth $8,081,000 after acquiring an additional 1,823 shares during the period. Banco Santander S.A. bought a new position in McKesson in the 3rd quarter worth $223,000. Meridian Wealth Management LLC lifted its position in shares of McKesson by 18.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,535 shares of the company's stock worth $759,000 after purchasing an additional 237 shares during the period. Great Valley Advisor Group Inc. boosted its stake in shares of McKesson by 55.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 10,498 shares of the company's stock valued at $5,190,000 after purchasing an additional 3,729 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of McKesson by 7.6% during the third quarter. Cerity Partners LLC now owns 44,224 shares of the company's stock valued at $21,867,000 after buying an additional 3,127 shares during the period. Institutional investors own 85.07% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms have weighed in on MCK. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company's stock.

McKesson Stock Up 0.4 %

MCK traded up $2.58 during mid-day trading on Friday, reaching $668.25. 566,680 shares of the company traded hands, compared to its average volume of 837,100. The company's fifty day moving average price is $623.58 and its 200-day moving average price is $578.83. The stock has a market capitalization of $83.75 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $672.00.

McKesson (NYSE:MCK - Get Free Report) last posted 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%. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

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.