EHP Funds Inc. Sells 1,300 Shares of McKesson Co. (NYSE:MCK)

EHP Funds Inc. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 48.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,400 shares of the company's stock after selling 1,300 shares during the period. McKesson accounts for 0.7% of EHP Funds Inc.'s holdings, making the stock its 26th biggest holding. EHP Funds Inc.'s holdings in McKesson were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. 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 last quarter. Trust Co. of Vermont lifted its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management grew its position in McKesson by 18.6% in the fourth 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 increased its stake in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after acquiring an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group boosted their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Bank of America boosted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Trading Down 2.8%

MCK stock traded down $19.57 during trading on Monday, reaching $673.89. The stock had a trading volume of 1,669,749 shares, compared to its average volume of 902,546. The firm has a fifty day moving average price of $678.24 and a 200 day moving average price of $621.72. The company has a market capitalization of $84.46 billion, a P/E ratio of 30.88, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.48.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 13.00%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company'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 transaction of $5,382,514.26. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last quarter. Company insiders own 0.11% of the company's stock.

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.