Oak Associates Ltd. OH Trims Holdings in McKesson Co. (NYSE:MCK)

Oak Associates Ltd. OH trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,951 shares of the company's stock after selling 4,084 shares during the period. Oak Associates Ltd. OH's holdings in McKesson were worth $10,800,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MCK. Norges Bank purchased a new stake in McKesson during the fourth quarter worth $1,200,361,000. Proficio Capital Partners LLC purchased a new stake in shares of McKesson during the 4th quarter worth about $178,397,000. Alliancebernstein L.P. grew its position in shares of McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after acquiring an additional 272,068 shares during the period. Raymond James Financial Inc. acquired a new position in McKesson in the 4th quarter worth about $128,125,000. Finally, Boston Partners boosted its position in McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated 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 transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last ninety days. 0.11% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Bank of America lifted their price target on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

McKesson Stock Down 0.2 %

Shares of MCK traded down $1.55 during trading on Tuesday, reaching $692.43. 670,498 shares of the company traded hands, compared to its average volume of 881,256. The stock has a 50-day simple moving average of $644.47 and a 200-day simple moving average of $595.30. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The stock has a market cap of $86.78 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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