Cresset Asset Management LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Cresset Asset Management LLC decreased its position in McKesson Co. (NYSE:MCK - Free Report) by 90.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,121 shares of the company's stock after selling 10,259 shares during the period. Cresset Asset Management LLC's holdings in McKesson were worth $639,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MCK. Millstone Evans Group LLC purchased a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson in the 4th quarter valued at $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the 4th quarter valued at $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCK. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Performance

NYSE MCK traded up $16.29 during trading on Friday, reaching $723.05. The company's stock had a trading volume of 1,087,990 shares, compared to its average volume of 915,647. The firm has a market cap of $90.62 billion, a price-to-earnings ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48. The business's fifty day moving average price is $683.14 and its 200-day moving average price is $626.73.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's payout ratio is 10.99%.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The shares were 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 of the company's stock, valued at $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company's stock.

McKesson 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.