Centiva Capital LP Decreases Stock Position in McKesson Co. (NYSE:MCK)

Centiva Capital LP trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 90.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 879 shares of the company's stock after selling 8,097 shares during the quarter. Centiva Capital LP's holdings in McKesson were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. T. Rowe Price Investment Management Inc. lifted its stake in McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. grew its position in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. Norges Bank bought a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Finally, Northern Trust Corp grew its holdings in shares of McKesson by 9.0% in the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock worth $873,218,000 after purchasing an additional 126,940 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at approximately $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. Insiders have sold 18,110 shares of company stock valued at $10,855,706 over the last ninety days. 0.11% of the stock is currently owned by insiders.

McKesson Trading Up 0.6 %

Shares of MCK stock opened at $694.12 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.48. The business's fifty day simple moving average is $678.24 and its 200-day simple moving average is $620.91. The company has a market cap of $86.99 billion, a PE ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business posted $6.18 earnings per share. The firm's revenue was up 18.9% compared to the same quarter last year. On average, equities 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, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MCK shares. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Finally, Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $686.69.

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.

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