Hartford Investment Management Co. Has $4.47 Million Stock Position in McKesson Co. (NYSE:MCK)

Hartford Investment Management Co. reduced its position in McKesson Co. (NYSE:MCK) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,843 shares of the company’s stock after selling 325 shares during the period. Hartford Investment Management Co.’s holdings in McKesson were worth $4,470,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter worth $31,000. Synergy Asset Management LLC bought a new stake in McKesson during the 4th quarter worth about $32,000. Finally, Crews Bank & Trust acquired a new position in McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MCK. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho assumed coverage on shares of 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 lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Buy” and an average price target of $645.79.

McKesson Stock Down 2.5 %

MCK opened at $595.24 on Thursday. The stock has a market capitalization of $75.56 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a 50-day simple moving average of $587.89 and a 200 day simple moving average of $562.68.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Sell-side analysts anticipate that McKesson Co. will post 32.69 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 dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

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.