Capital Management Associates NY Cuts Stake in McKesson Co. (NYSE:MCK)

Capital Management Associates NY cut its stake in McKesson Co. (NYSE:MCK) by 14.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,050 shares of the company’s stock after selling 350 shares during the quarter. McKesson comprises about 1.4% of Capital Management Associates NY’s investment portfolio, making the stock its 29th biggest position. Capital Management Associates NY’s holdings in McKesson were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Atala Financial Inc purchased a new position in McKesson in the fourth quarter valued at about $34,000. LBP AM SA purchased a new stake in shares of McKesson during the fourth quarter worth about $916,000. Balboa Wealth Partners increased its position in shares of McKesson by 71.5% during the fourth quarter. Balboa Wealth Partners now owns 1,077 shares of the company’s stock worth $614,000 after acquiring an additional 449 shares during the last quarter. Achmea Investment Management B.V. increased its position in shares of McKesson by 1.9% during the fourth quarter. Achmea Investment Management B.V. now owns 49,386 shares of the company’s stock worth $28,146,000 after acquiring an additional 922 shares during the last quarter. Finally, Tredje AP fonden increased its position in shares of McKesson by 19.6% during the fourth quarter. Tredje AP fonden now owns 116,575 shares of the company’s stock worth $66,437,000 after acquiring an additional 19,075 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.1 %

Shares of MCK stock opened at $650.96 on Friday. The business has a 50 day moving average of $608.54 and a two-hundred day moving average of $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 cap of $81.58 billion, a P/E ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. Analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling at McKesson

In other news, 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 transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, 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 filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $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 a total of 18,689 shares of company stock worth $11,187,351 over the last ninety days. Company insiders own 0.11% 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.