Custom Index Systems LLC Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Custom Index Systems LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,622 shares of the company’s stock after selling 339 shares during the quarter. Custom Index Systems LLC’s holdings in McKesson were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank raised its position in shares of McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after buying an additional 3,020 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in McKesson in the 2nd quarter valued at $12,331,000. West Oak Capital LLC lifted its stake in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the period. Nordea Investment Management AB boosted its holdings in shares of 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 purchasing an additional 162,688 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

Shares of MCK opened at $594.85 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The stock has a market cap of $75.51 billion, a PE ratio of 30.81, a P/E/G ratio of 1.30 and a beta of 0.52. The stock’s 50-day moving average is $591.35 and its two-hundred day moving average is $562.12.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.23 EPS. On average, research analysts anticipate that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on 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 raised their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $646.14.

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.