Great Lakes Retirement Inc. Cuts Stock Position in McKesson Co. (NYSE:MCK)

Great Lakes Retirement Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 66.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,824 shares of the company’s stock after selling 5,511 shares during the period. Great Lakes Retirement Inc.’s holdings in McKesson were worth $1,611,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCK. Synergy Asset Management LLC purchased a new stake in McKesson during the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new position in McKesson during the 3rd quarter worth approximately $29,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter worth approximately $33,000. Wolff Wiese Magana LLC boosted its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in McKesson during the 3rd quarter valued at $31,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.2 %

Shares of MCK opened at $610.57 on Wednesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a fifty day moving average price of $588.04 and a 200-day moving average price of $562.60. The firm has a market capitalization of $77.51 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly 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 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. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling

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

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Buy” and an average price target 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.