Dana Investment Advisors Inc. Sells 2,319 Shares of McKesson Co. (NYSE:MCK)

Dana Investment Advisors Inc. reduced its position in shares of McKesson Co. (NYSE:MCK) by 8.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,922 shares of the company’s stock after selling 2,319 shares during the quarter. Dana Investment Advisors Inc.’s holdings in McKesson were worth $14,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter valued at about $33,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $44,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $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 available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock worth $11,536,378 over the last quarter. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MCK shares. Bank of America dropped their price target 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. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. 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. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

Shares of NYSE:MCK opened at $640.39 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $653.92. The company has a market capitalization of $80.26 billion, a P/E ratio of 29.32, a P/E/G ratio of 1.29 and a beta of 0.52. The firm’s 50 day simple moving average is $598.01 and its two-hundred day simple moving average is $566.15.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. 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.