McKesson Co. (NYSE:MCK) Shares Sold by Cypress Capital Group

Cypress Capital Group lowered its holdings in McKesson Co. (NYSE:MCK) by 8.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,929 shares of the company’s stock after selling 258 shares during the period. Cypress Capital Group’s holdings in McKesson were worth $1,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter worth approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,268 shares of company stock worth $11,536,378. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.1 %

MCK stock opened at $643.69 on Wednesday. The company has a 50-day simple moving average of $596.79 and a 200 day simple moving average of $565.63. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92. The company has a market capitalization of $80.67 billion, a P/E ratio of 29.47, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s payout ratio is presently 13.00%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MCK shares. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.