Te Ahumairangi Investment Management Ltd Sells 3,225 Shares of McKesson Co. (NYSE:MCK)

Te Ahumairangi Investment Management Ltd lessened its holdings in McKesson Co. (NYSE:MCK) by 27.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,504 shares of the company’s stock after selling 3,225 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in McKesson were worth $4,847,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MCK. Millstone Evans Group LLC acquired a new stake in McKesson in the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new position in shares of McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Atala Financial Inc bought a new stake in McKesson during the fourth quarter worth about $34,000. Finally, Graney & King LLC acquired a new position in McKesson during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $674.30 on Wednesday. The business has a fifty day simple moving average of $626.97 and a 200 day simple moving average of $582.06. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $678.67. The company has a market capitalization of $84.51 billion, a PE ratio of 30.87, 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 (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%. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio is presently 13.00%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. 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. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley raised their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment 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’s stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

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.