Bellevue Group AG Lowers Stake in McKesson Co. (NYSE:MCK)

Bellevue Group AG decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 46.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,315 shares of the company's stock after selling 16,427 shares during the period. Bellevue Group AG's holdings in McKesson were worth $11,008,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Frank Rimerman Advisors LLC lifted its position in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares during the period. Trust Co. of Vermont grew its holdings in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management increased its holdings in McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares in the last quarter. First Western Trust Bank raised its position in shares of McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its position in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after acquiring an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MCK shares. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America increased their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Mizuho boosted their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Three 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $681.00.

McKesson Stock Performance

McKesson stock opened at $707.28 on Friday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The firm has a 50 day moving average price of $671.24 and a 200 day moving average price of $614.02. The company has a market capitalization of $88.64 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last posted 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%. As a group, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

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

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.

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