McKesson Co. (NYSE:MCK) Stock Holdings Lessened by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 18.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,175 shares of the company's stock after selling 10,385 shares during the period. Wedge Capital Management L L P NC's holdings in McKesson were worth $26,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in MCK. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock valued at $47,000 after buying an additional 28 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MCK shares. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Finally, Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $646.14.

McKesson Stock Performance

McKesson stock traded down $2.50 during trading on Friday, reaching $592.69. 686,346 shares of the company's stock were exchanged, compared to its average volume of 622,630. The company's 50-day moving average is $595.11 and its two-hundred day moving average is $561.34. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market cap of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 EPS. Analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson's dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated 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 in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by corporate 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.