Brandes Investment Partners LP Has $203.42 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Brandes Investment Partners LP trimmed its holdings in McKesson Co. (NYSE:MCK) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,924 shares of the company’s stock after selling 19,385 shares during the quarter. McKesson makes up approximately 2.3% of Brandes Investment Partners LP’s holdings, making the stock its 7th biggest position. Brandes Investment Partners LP owned 0.28% of McKesson worth $203,415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Synergy Asset Management LLC purchased a new stake in McKesson in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the third quarter valued at about $29,000. Crews Bank & Trust bought a new stake in McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter worth about $34,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the third quarter worth about $31,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCK. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Bank of America cut 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. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 1.1 %

NYSE:MCK opened at $650.96 on Friday. The stock’s 50 day moving average price is $608.54 and its 200 day moving average price is $570.71. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $663.62. The company has a market capitalization of $81.58 billion, a PE ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 13.00%.

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.