McKesson Co. (NYSE:MCK) Shares Sold by Shelton Capital Management

Shelton Capital Management lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 28.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,867 shares of the company's stock after selling 1,534 shares during the quarter. Shelton Capital Management's holdings in McKesson were worth $2,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Geode Capital Management LLC grew its stake in shares of McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. grew its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. Norges Bank acquired a new stake in McKesson during the fourth quarter worth $1,200,361,000. Boston Partners raised its position in McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after purchasing an additional 216,432 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.1 %

NYSE:MCK traded up $0.79 during mid-day trading on Monday, hitting $690.15. The stock had a trading volume of 238,601 shares, compared to its average volume of 878,674. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The stock has a 50-day simple moving average of $642.70 and a two-hundred day simple moving average of $593.86. The company has a market capitalization of $86.49 billion, a PE ratio of 31.60, a PEG ratio of 1.29 and a beta of 0.49.

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McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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%. Sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson's payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was 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 owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Bank of America upped their price objective on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $668.50.

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.