Sigma Planning Corp Sells 1,063 Shares of McKesson Co. (NYSE:MCK)

Sigma Planning Corp trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 39.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,640 shares of the company’s stock after selling 1,063 shares during the period. Sigma Planning Corp’s holdings in McKesson were worth $759,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. International Assets Investment Management LLC boosted its holdings in shares of McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Morgan Stanley boosted its holdings in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of McKesson by 5,683.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after buying an additional 221,125 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $531.87 on Wednesday. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The firm has a market cap of $69.89 billion, a PE ratio of 24.10, a P/E/G ratio of 1.43 and a beta of 0.45. The stock has a fifty day moving average price of $526.12 and a 200-day moving average price of $488.15.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period last year, the firm posted $6.90 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MCK shares. Barclays started coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. SVB Leerink started coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Finally, Morgan Stanley increased their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.