Wedge Capital Management L L P NC Cuts Stock Position in McKesson Co. (NYSE:MCK)

Wedge Capital Management L L P NC decreased its position in shares of McKesson Co. (NYSE:MCK) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,175 shares of the company’s stock after selling 10,385 shares during the period. Wedge Capital Management L L P NC’s holdings in McKesson were worth $26,886,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MCK. Waterloo Capital L.P. acquired a new position in McKesson during the 2nd quarter valued at about $246,000. Intech Investment Management LLC increased its holdings in shares of McKesson by 67.0% during the second quarter. Intech Investment Management LLC now owns 64,353 shares of the company’s stock valued at $37,585,000 after acquiring an additional 25,826 shares in the last quarter. Ieq Capital LLC raised its position in shares of McKesson by 12.5% in the 2nd quarter. Ieq Capital LLC now owns 7,761 shares of the company’s stock valued at $4,532,000 after purchasing an additional 861 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in McKesson by 24.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,723 shares of the company’s stock worth $2,174,000 after purchasing an additional 725 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in McKesson by 6.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 264,335 shares of the company’s stock worth $154,382,000 after purchasing an additional 15,423 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.4 %

Shares of McKesson stock opened at $592.69 on Friday. The firm has a market cap of $75.24 billion, a PE ratio of 30.69, a P/E/G ratio of 1.26 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 business has a 50-day moving average price of $595.51 and a 200 day moving average price of $561.29.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same period in the previous year, the business earned $6.23 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on MCK shares. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at $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 SEC, which is available at this link. Corporate 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.