McKesson Co. (NYSE:MCK) Shares Sold by Strategic Financial Services Inc.

Strategic Financial Services Inc. cut its stake in shares of McKesson Co. (NYSE:MCK) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,227 shares of the company’s stock after selling 30 shares during the period. McKesson makes up approximately 0.2% of Strategic Financial Services Inc.’s holdings, making the stock its 29th biggest holding. Strategic Financial Services Inc.’s holdings in McKesson were worth $4,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Synergy Asset Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter valued at approximately $33,000. Atala Financial Inc acquired a new position in shares of McKesson in the 4th quarter valued at approximately $34,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at approximately $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson in the 4th quarter valued at approximately $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $664.09 on Thursday. The company has a market cap of $83.23 billion, a P/E ratio of 30.41, a PEG ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average price of $613.05 and a 200 day moving average price of $573.00. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $666.99.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Bank of America lowered 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. Finally, Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $649.36.

Insiders Place Their Bets

In other McKesson 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 completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $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 can be accessed through this link. 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 transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

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.