McKesson Co. (NYSE:MCK) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its holdings in shares of McKesson Co. (NYSE:MCK) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,439 shares of the company’s stock after selling 15,518 shares during the period. Van ECK Associates Corp’s holdings in McKesson were worth $37,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cibc World Market Inc. grew its stake in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Commerce Bank grew its position in shares of McKesson by 2.0% during the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock worth $77,516,000 after buying an additional 3,020 shares in the last quarter. West Oak Capital LLC grew its position in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after buying an additional 2,690 shares in the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson in the fourth quarter worth $3,018,000. Finally, Nordea Investment Management AB raised its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

Shares of MCK opened at $602.73 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a fifty day moving average of $587.56 and a 200-day moving average of $562.90. The company has a market cap of $76.51 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. Analysts predict that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 1,346 shares of company stock valued at $795,275 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.