Vident Advisory LLC Sells 5,504 Shares of McKesson Co. (NYSE:MCK)

Vident Advisory LLC reduced its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 60.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,649 shares of the company's stock after selling 5,504 shares during the quarter. Vident Advisory LLC's holdings in McKesson were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MCK. Cibc World Market Inc. grew its holdings in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after buying an additional 1,207 shares in the last quarter. Brentview Investment Management LLC acquired a new position in shares of McKesson during the fourth quarter worth $3,018,000. Ingalls & Snyder LLC raised its holdings in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after purchasing an additional 580 shares during the last quarter. Finally, Blue Trust Inc. grew its position in shares of McKesson by 6.4% during the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $4,462,000 after acquiring an additional 468 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MCK shares. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Three investment 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. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Stock Performance

MCK traded up $4.80 on Friday, reaching $715.44. The company had a trading volume of 815,972 shares, compared to its average volume of 918,692. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The stock has a market cap of $89.51 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.29 and a beta of 0.53. The company's fifty day moving average is $689.88 and its 200 day moving average is $633.70.

McKesson (NYSE:MCK - Get Free Report) last announced 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 net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same quarter in the prior year, the business earned $6.18 EPS. McKesson's quarterly revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is 10.99%.

Insider Activity at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the transaction, the chief financial officer now owns 14,760 shares in the company, valued at approximately $10,587,348. The trade was a 30.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,127 shares of company stock valued at $5,834,498 over the last three months. 0.11% of the stock is owned by insiders.

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.