Stifel Financial Corp Reduces Position in McKesson Co. (NYSE:MCK)

Stifel Financial Corp cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,430 shares of the company's stock after selling 12,439 shares during the period. Stifel Financial Corp's holdings in McKesson were worth $27,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. Te Ahumairangi Investment Management Ltd boosted its stake in McKesson by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company's stock worth $5,766,000 after buying an additional 1,890 shares during the period. World Investment Advisors LLC purchased a new position in McKesson during the 3rd quarter valued at $2,229,000. Wilmington Savings Fund Society FSB increased its stake in McKesson by 817.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company's stock worth $2,780,000 after purchasing an additional 5,009 shares during the period. Tidal Investments LLC lifted its position in shares of McKesson by 453.8% during the third quarter. Tidal Investments LLC now owns 52,992 shares of the company's stock worth $26,200,000 after purchasing an additional 43,424 shares during the last quarter. Finally, Castellan Group lifted its holdings in McKesson by 4.0% during the 3rd quarter. Castellan Group now owns 10,200 shares of the company's stock valued at $5,043,000 after buying an additional 391 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America lifted their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday, April 11th. Morgan Stanley raised their target price 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. Finally, Evercore ISI increased their price objective 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. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $681.00.

McKesson Trading Up 0.5 %

Shares of NYSE:MCK traded up $3.85 on Wednesday, hitting $711.13. 222,817 shares of the company were exchanged, compared to its average volume of 887,401. The firm has a market capitalization of $89.12 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock's 50 day moving average price is $665.30 and its 200 day moving average price is $609.90. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio is presently 13.00%.

About McKesson

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.