Wedge Capital Management L L P NC Sells 9,263 Shares of McKesson Co. (NYSE:MCK)

Wedge Capital Management L L P NC reduced its holdings in McKesson Co. (NYSE:MCK) by 12.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,292 shares of the company’s stock after selling 9,263 shares during the quarter. Wedge Capital Management L L P NC’s holdings in McKesson were worth $29,766,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after acquiring an additional 749,504 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares in the last quarter. Morgan Stanley raised its position in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of McKesson by 92.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after acquiring an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in McKesson by 5,683.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after buying an additional 221,125 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MCK shares. Morgan Stanley raised their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group increased their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup increased their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $533.50.

McKesson Trading Up 0.5 %

NYSE MCK traded up $2.49 on Monday, hitting $527.32. 893,491 shares of the company traded hands, compared to its average volume of 691,466. The business’s 50 day moving average price is $524.91 and its 200-day moving average price is $486.96. The company has a market capitalization of $69.30 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.42 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the previous year, the firm posted $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. 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 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% 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.