Bridgefront Capital LLC Sells 986 Shares of McKesson Co. (NYSE:MCK)

Bridgefront Capital LLC trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 44.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,233 shares of the company's stock after selling 986 shares during the quarter. Bridgefront Capital LLC's holdings in McKesson were worth $703,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new position in shares of McKesson in the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new position in McKesson in the fourth quarter valued at about $34,000. Finally, Graney & King LLC bought a new stake in McKesson in the fourth quarter worth approximately $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of a number of research analyst reports. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $686.69.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.6 %

MCK traded up $3.87 during trading on Friday, hitting $694.12. The company had a trading volume of 2,028,420 shares, compared to its average volume of 898,192. The firm's 50-day moving average price is $677.23 and its 200 day moving average price is $618.78. The company has a market capitalization of $86.99 billion, a PE ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the firm earned $6.18 earnings per share. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is presently 13.00%.

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.