Securian Asset Management Inc. Sells 334 Shares of McKesson Co. (NYSE:MCK)

Securian Asset Management Inc. reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,876 shares of the company’s stock after selling 334 shares during the quarter. Securian Asset Management Inc.’s holdings in McKesson were worth $3,919,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of McKesson by 7.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,007 shares of the company’s stock worth $1,144,000 after acquiring an additional 144 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of McKesson by 6.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,008 shares of the company’s stock worth $3,994,000 after acquiring an additional 414 shares during the period. PFG Advisors bought a new position in shares of McKesson during the 4th quarter worth approximately $228,000. HighTower Advisors LLC boosted its stake in shares of McKesson by 113.1% during the 4th quarter. HighTower Advisors LLC now owns 72,408 shares of the company’s stock worth $41,266,000 after acquiring an additional 38,433 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in shares of McKesson by 21.4% during the 4th quarter. Moors & Cabot Inc. now owns 3,474 shares of the company’s stock worth $1,980,000 after acquiring an additional 613 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on MCK shares. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was 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. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $640.93 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $663.61. The business has a fifty day moving average price of $605.54 and a two-hundred day moving average price of $569.47. The stock has a market capitalization of $80.32 billion, a PE ratio of 29.35, a P/E/G 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 earnings per share (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%. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. McKesson’s payout ratio is 13.00%.

McKesson 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.