Tidal Investments LLC Has $5 Million Holdings in McKesson Co. (NYSE:MCK)

Tidal Investments LLC lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 83.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,776 shares of the company's stock after selling 44,216 shares during the quarter. Tidal Investments LLC's holdings in McKesson were worth $5,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Frank Rimerman Advisors LLC raised its stake in McKesson by 2.2% in 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 in the last quarter. Hemington Wealth Management raised its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares in the last quarter. First Western Trust Bank raised 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 in the last quarter. Calamos Wealth Management LLC raised its stake in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after acquiring an additional 20 shares in the last quarter. Finally, Quent Capital LLC raised its stake in McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company's stock worth $671,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MCK shares. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. UBS Group boosted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 1.0%

NYSE:MCK opened at $719.07 on Wednesday. The stock's 50-day moving average is $686.37 and its 200-day moving average is $630.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The stock has a market cap of $89.96 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating 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 business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the business posted $6.18 earnings per share. The firm's revenue was up 18.9% on a year-over-year basis. As a group, equities analysts forecast 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. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

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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