Atalanta Sosnoff Capital LLC Sells 1,141 Shares of McKesson Co. (NYSE:MCK)

Atalanta Sosnoff Capital LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 73,320 shares of the company's stock after selling 1,141 shares during the period. Atalanta Sosnoff Capital LLC owned approximately 0.06% of McKesson worth $41,786,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at $1,200,361,000. Marshall Wace LLP lifted its stake in McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after buying an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC bought a new position in McKesson during the 4th quarter worth about $178,397,000. Alliancebernstein L.P. grew its holdings in shares of McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock worth $487,462,000 after buying an additional 272,068 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in McKesson by 259.7% in the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock valued at $192,845,000 after purchasing an additional 244,315 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Up 0.6 %

Shares of MCK stock traded up $4.23 during trading on Tuesday, hitting $711.23. The company's stock had a trading volume of 864,394 shares, compared to its average volume of 891,553. The company has a market cap of $89.14 billion, a PE ratio of 32.57, a P/E/G ratio of 1.29 and a beta of 0.53. The business has a fifty day moving average of $672.89 and a 200-day moving average of $616.14. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. As a group, research analysts predict 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, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Wells Fargo & Company increased their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Bank of America increased their target price on shares of McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $681.00.

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.