Ceera Investments LLC trimmed its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,182 shares of the company's stock after selling 669 shares during the period. McKesson comprises approximately 2.0% of Ceera Investments LLC's portfolio, making the stock its 16th biggest holding. Ceera Investments LLC's holdings in McKesson were worth $4,035,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of MCK. Lindbrook Capital LLC raised its holdings in McKesson by 9.9% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company's stock valued at $119,000 after buying an additional 35 shares in the last quarter. International Assets Investment Management LLC raised its holdings in McKesson by 3.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,310 shares of the company's stock valued at $326,000 after buying an additional 38 shares in the last quarter. Glassman Wealth Services raised its holdings in McKesson by 22.7% during the fourth quarter. Glassman Wealth Services now owns 211 shares of the company's stock valued at $52,000 after buying an additional 39 shares in the last quarter. Addison Advisors LLC raised its holdings in McKesson by 19.3% during the first quarter. Addison Advisors LLC now owns 260 shares of the company's stock valued at $80,000 after buying an additional 42 shares in the last quarter. Finally, Buckingham Strategic Wealth LLC increased its stake in shares of McKesson by 2.5% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 1,754 shares of the company's stock worth $436,000 after purchasing an additional 43 shares during the period. 85.45% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research firms recently weighed in on MCK. Cowen lifted their target price on McKesson to $384.00 in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $378.00 to $409.00 in a report on Monday, August 8th. UBS Group boosted their target price on McKesson from $380.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. Credit Suisse Group boosted their target price on McKesson from $377.00 to $385.00 and gave the stock an "outperform" rating in a report on Monday, August 8th. Finally, Robert W. Baird upped their price objective on McKesson from $386.00 to $400.00 and gave the stock an "outperform" rating in a report on Thursday, August 4th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $337.62.
McKesson Stock Down 0.8 %
McKesson stock traded down $3.06 during mid-day trading on Wednesday, hitting $370.78. 2,686 shares of the company's stock were exchanged, compared to its average volume of 972,312. The firm has a market capitalization of $53.29 billion, a P/E ratio of 39.52, a PEG ratio of 1.53 and a beta of 0.63. McKesson Co. has a fifty-two week low of $193.89 and a fifty-two week high of $375.23. The company's 50 day simple moving average is $329.50 and its 200-day simple moving average is $311.96.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Wednesday, August 31st. This is a boost from McKesson's previous quarterly dividend of $0.47. McKesson's dividend payout ratio is 19.87%.
Insiders Place Their Bets
In other McKesson news, CFO Britt J. Vitalone sold 27,281 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $333.16, for a total transaction of $9,088,937.96. Following the completion of the transaction, the chief financial officer now owns 13,693 shares in the company, valued at approximately $4,561,959.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Britt J. Vitalone sold 27,281 shares of the firm's stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $333.16, for a total value of $9,088,937.96. Following the completion of the transaction, the chief financial officer now owns 13,693 shares in the company, valued at approximately $4,561,959.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 1,535 shares of the firm's stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $305.20, for a total value of $468,482.00. Following the completion of the transaction, the chief executive officer now owns 75,737 shares of the company's stock, valued at approximately $23,114,932.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,396 shares of company stock worth $14,471,365. Corporate insiders own 0.21% of the company's stock.
McKesson Profile
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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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