Ceera Investments LLC Sells 360 Shares of McKesson Co. (NYSE:MCK)

Ceera Investments LLC reduced its holdings in McKesson Co. (NYSE:MCK) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,973 shares of the company’s stock after selling 360 shares during the period. McKesson accounts for approximately 1.8% of Ceera Investments LLC’s portfolio, making the stock its 20th largest position. Ceera Investments LLC’s holdings in McKesson were worth $5,114,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MCK. Consolidated Planning Corp increased its position in shares of McKesson by 35.1% during the third quarter. Consolidated Planning Corp now owns 1,144 shares of the company’s stock valued at $566,000 after purchasing an additional 297 shares during the period. Fiera Capital Corp increased its position in shares of McKesson by 4.7% during the third quarter. Fiera Capital Corp now owns 847 shares of the company’s stock valued at $419,000 after purchasing an additional 38 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of McKesson during the third quarter valued at approximately $416,000. SpiderRock Advisors LLC increased its position in shares of McKesson by 67.3% during the third quarter. SpiderRock Advisors LLC now owns 8,433 shares of the company’s stock valued at $4,170,000 after purchasing an additional 3,391 shares during the period. Finally, Verdence Capital Advisors LLC increased its position in shares of McKesson by 38.2% during the third quarter. Verdence Capital Advisors LLC now owns 8,698 shares of the company’s stock valued at $4,301,000 after purchasing an additional 2,406 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. 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. Finally, Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Up 0.5 %

Shares of MCK opened at $644.92 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92. The firm has a market capitalization of $80.82 billion, a PE ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s fifty day simple moving average is $600.67 and its 200-day simple moving average is $567.49.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. Analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.