Sei Investments Co. Decreases Stake in McKesson Co. (NYSE:MCK)

Sei Investments Co. trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 135,355 shares of the company's stock after selling 34,270 shares during the quarter. Sei Investments Co. owned about 0.11% of McKesson worth $77,143,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCK. Millstone Evans Group LLC purchased a new stake in McKesson during the fourth quarter valued at approximately $28,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth $32,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter valued at about $33,000. Finally, Atala Financial Inc purchased a new stake in McKesson in the fourth quarter valued at about $34,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm's 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 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 disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last ninety days. Corporate insiders own 0.11% of the company's stock.

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McKesson Stock Performance

Shares of MCK traded up $3.38 during trading hours on Thursday, hitting $666.40. The stock had a trading volume of 690,142 shares, compared to its average volume of 801,746. The firm has a market capitalization of $83.52 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.29 and a beta of 0.52. The firm has a 50-day moving average price of $620.63 and a 200 day moving average price of $577.10. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $671.58.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. As a group, analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Analysts Set New Price Targets

MCK has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. 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 research note on Monday, January 6th. Finally, Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $649.36.

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.