McKesson Co. (NYSE:MCK) Shares Sold by Strategic Financial Services Inc.

Strategic Financial Services Inc. lowered its holdings in McKesson Co. (NYSE:MCK) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,227 shares of the company’s stock after selling 30 shares during the quarter. McKesson accounts for about 0.2% of Strategic Financial Services Inc.’s holdings, making the stock its 29th biggest position. Strategic Financial Services Inc.’s holdings in McKesson were worth $4,119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Royal London Asset Management Ltd. lifted its holdings in McKesson by 1.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 61,691 shares of the company’s stock valued at $35,158,000 after acquiring an additional 1,085 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of McKesson by 4,835.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,073 shares of the company’s stock valued at $1,181,000 after buying an additional 2,031 shares in the last quarter. Vinva Investment Management Ltd increased its position in shares of McKesson by 80.6% in the fourth quarter. Vinva Investment Management Ltd now owns 6,341 shares of the company’s stock valued at $3,619,000 after buying an additional 2,829 shares in the last quarter. Stokes Family Office LLC purchased a new position in shares of McKesson in the fourth quarter valued at $228,000. Finally, Xponance Inc. increased its position in shares of McKesson by 1.8% in the fourth quarter. Xponance Inc. now owns 29,592 shares of the company’s stock valued at $16,865,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company 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 research report on Friday, February 14th. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Finally, Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two research 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

McKesson Price Performance

MCK opened at $664.09 on Thursday. The stock has a market capitalization of $83.23 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average of $613.05 and a two-hundred day moving average of $573.00. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99.

McKesson (NYSE:MCK) last posted 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value 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. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated 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 directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last three months. Corporate insiders own 0.11% of the company’s stock.

McKesson 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.