Cetera Investment Advisers Sells 5,406 Shares of McKesson Co. (NYSE:MCK)

Cetera Investment Advisers decreased its position in McKesson Co. (NYSE:MCK - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,668 shares of the company's stock after selling 5,406 shares during the period. Cetera Investment Advisers' holdings in McKesson were worth $19,188,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in McKesson during the fourth quarter worth $1,200,361,000. Marshall Wace LLP raised its stake in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after buying an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of McKesson during the 4th quarter worth about $178,397,000. Alliancebernstein L.P. boosted its position in shares of McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after acquiring an additional 272,068 shares in the last quarter. Finally, Voya Investment Management LLC increased its stake in McKesson by 259.7% in the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock valued at $192,845,000 after acquiring an additional 244,315 shares during the period. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their price objective on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, Bank of America upped their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday. Three equities research 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $686.69.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of 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 a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

NYSE MCK traded up $0.41 on Tuesday, reaching $687.93. The company had a trading volume of 1,135,002 shares, compared to its average volume of 908,261. The firm has a market capitalization of $86.22 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company's fifty day moving average is $679.17 and its 200-day moving average is $622.97. 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 released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping 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 firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the firm posted $6.18 EPS. The business's revenue was up 18.9% on a year-over-year basis. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's payout ratio is currently 13.00%.

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.