Pictet Asset Management Holding SA Sells 11,053 Shares of McKesson Co. (NYSE:MCK)

Pictet Asset Management Holding SA reduced its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,286 shares of the company's stock after selling 11,053 shares during the period. Pictet Asset Management Holding SA owned 0.07% of McKesson worth $53,165,000 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 MCK. Millstone Evans Group LLC purchased a new position in McKesson during the fourth quarter valued at $28,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust bought a new stake in McKesson during the 4th quarter valued at about $33,000. Atala Financial Inc purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in McKesson in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of NYSE:MCK traded up $20.43 during mid-day trading on Wednesday, reaching $694.12. 1,044,672 shares of the company traded hands, compared to its average volume of 825,767. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $695.46. The firm has a market cap of $86.99 billion, a PE ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.52. The company's 50 day moving average price is $626.97 and its 200-day moving average price is $582.06.

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McKesson (NYSE:MCK - Get Free Report) last released 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%. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 yield of 0.41%. McKesson's dividend payout ratio is presently 13.00%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Evercore ISI upped their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $656.71.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last three months. 0.11% of the stock is owned by company insiders.

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.