McKesson Co. (NYSE:MCK) Stake Lessened by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC cut its stake in McKesson Co. (NYSE:MCK) by 64.4% in the 4th quarter, HoldingsChannel reports. The fund owned 693 shares of the company’s stock after selling 1,252 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in McKesson were worth $396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. International Assets Investment Management LLC boosted its holdings in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares in the last quarter. FMR LLC boosted its holdings in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.

McKesson Stock Down 0.7 %

MCK stock opened at $595.77 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a market cap of $75.63 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 1.29 and a beta of 0.52. The company has a 50 day moving average of $589.05 and a two-hundred day moving average of $562.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. On average, research analysts anticipate that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, 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 research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $645.79.

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.