McKesson Co. (NYSE:MCK) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its position in McKesson Co. (NYSE:MCK) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,642 shares of the company’s stock after selling 10,136 shares during the quarter. American Century Companies Inc.’s holdings in McKesson were worth $29,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cibc World Market Inc. lifted its stake in shares of McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after buying an additional 1,207 shares in the last quarter. West Oak Capital LLC raised its holdings in McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after acquiring an additional 2,690 shares during the last quarter. Brentview Investment Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $3,018,000. Ingalls & Snyder LLC boosted its holdings in shares of McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of 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 purchasing an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Finally, Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 864 shares of the company’s stock, 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 through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 0.4 %

MCK opened at $668.25 on Friday. The stock’s 50-day moving average price is $623.58 and its 200 day moving average price is $578.83. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.00. The firm has a market cap of $83.75 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52.

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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business 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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

McKesson 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.