Montag A & Associates Inc. Has $2.72 Million Holdings in McKesson Co. (NYSE:MCK)

Montag A & Associates Inc. reduced its stake in shares of McKesson Co. (NYSE:MCK) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,763 shares of the company’s stock after selling 119 shares during the period. Montag A & Associates Inc.’s holdings in McKesson were worth $2,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC boosted its stake in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the period. Janus Henderson Group PLC raised its stake in McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.4 %

NYSE MCK opened at $593.82 on Monday. The business has a fifty day simple moving average of $587.26 and a 200 day simple moving average of $562.76. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts predict that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MCK. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 1,346 shares of company stock worth $795,275. 0.11% of the stock is owned by company insiders.

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.