McKesson Co. (NYSE:MCK) Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,439 shares of the company's stock after selling 15,518 shares during the period. Van ECK Associates Corp owned 0.05% of McKesson worth $37,864,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC raised its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new stake in McKesson during the fourth quarter worth approximately $32,000. Finally, Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter worth $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on 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 directly owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 1,346 shares of company stock worth $795,275 in the last 90 days. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of MCK stock traded down $8.65 on Monday, hitting $593.82. 499,287 shares of the stock traded hands, compared to its average volume of 765,241. The company's fifty day moving average is $587.26 and its 200 day moving average is $562.38. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a market capitalization of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52.

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 analysts' consensus estimates 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, equities research analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is 13.00%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Citigroup decreased their price target 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. Wells Fargo & Company upped 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. Evercore ISI boosted 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. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday. Finally, Baird R W upgraded shares of 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus target price of $645.79.

McKesson Company 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.