McKesson Co. (NYSE:MCK) Holdings Decreased by Ceera Investments LLC

Ceera Investments LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,973 shares of the company’s stock after selling 360 shares during the quarter. McKesson comprises about 1.8% of Ceera Investments LLC’s investment portfolio, making the stock its 20th largest holding. Ceera Investments LLC’s holdings in McKesson were worth $5,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Old North State Trust LLC grew its holdings in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont grew its holdings in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the period. Hemington Wealth Management grew its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after acquiring an additional 18 shares during the period. Black Diamond Financial LLC increased its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of the business’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 completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $644.92 on Friday. The firm has a market cap of $80.82 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $653.92. The stock has a 50-day simple moving average of $600.67 and a 200-day simple moving average of $567.49.

McKesson (NYSE:MCK) last announced its quarterly 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.44%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. 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. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.