Impax Asset Management Group plc Sells 22 Shares of McKesson Co. (NYSE:MCK)

Impax Asset Management Group plc cut its holdings in McKesson Co. (NYSE:MCK) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,783 shares of the company’s stock after selling 22 shares during the period. Impax Asset Management Group plc’s holdings in McKesson were worth $1,016,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MCK. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth $29,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter worth $33,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the 4th quarter worth $44,000. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 in the company, valued at $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. Over the last ninety days, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 3.5 %

NYSE MCK opened at $626.99 on Wednesday. The stock has a market cap of $78.58 billion, a P/E ratio of 28.71, a PEG ratio of 1.29 and a beta of 0.52. The company’s 50-day simple moving average is $591.00 and its 200 day simple moving average is $562.63. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is 13.00%.

Analysts Set New Price Targets

MCK has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.