Xponance Inc. Boosts Stock Position in McKesson Co. (NYSE:MCK)

Xponance Inc. lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,592 shares of the company’s stock after acquiring an additional 534 shares during the period. Xponance Inc.’s holdings in McKesson were worth $16,865,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MCK. Cibc World Market Inc. lifted its holdings in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the period. Commerce Bank lifted its holdings in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after acquiring an additional 3,020 shares during the period. West Oak Capital LLC lifted its holdings in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the period. Brentview Investment Management LLC acquired a new position in McKesson in the fourth quarter valued at approximately $3,018,000. Finally, Ingalls & Snyder LLC lifted its holdings in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after acquiring an additional 1,047 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % 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 Trading Up 0.8 %

Shares of MCK stock opened at $655.32 on Tuesday. The business’s 50 day moving average is $610.04 and its two-hundred day moving average is $571.65. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.62. The company has a market capitalization of $82.13 billion, a P/E ratio of 30.01, a price-to-earnings-growth 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, equities analysts predict that McKesson Co. will post 32.77 earnings per share 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 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

MCK has been the subject of several research analyst reports. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.