McKesson Co. (NYSE:MCK) Shares Sold by Athena Investment Management

Athena Investment Management cut its holdings in McKesson Co. (NYSE:MCK) by 14.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 847 shares of the company’s stock after selling 142 shares during the period. Athena Investment Management’s holdings in McKesson were worth $483,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC boosted its holdings in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the period. Geode Capital Management LLC boosted its stake in McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after purchasing an additional 26,299 shares during the period. The Manufacturers Life Insurance Company grew its position in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Up 3.2 %

Shares of NYSE MCK opened at $640.82 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $641.70. The firm has a market capitalization of $80.31 billion, a PE ratio of 29.34, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average price of $594.13 and a two-hundred day moving average price of $564.09.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,268 shares of company stock valued at $11,536,378. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on MCK. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

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.