Todd Asset Management LLC Sells 3,511 Shares of McKesson Co. (NYSE:MCK)

Todd Asset Management LLC decreased its position in shares of McKesson Co. (NYSE:MCK) by 6.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 47,240 shares of the company’s stock after selling 3,511 shares during the quarter. Todd Asset Management LLC’s holdings in McKesson were worth $21,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in McKesson by 42.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,769 shares of the company’s stock valued at $9,466,000 after acquiring an additional 6,438 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in McKesson in the 3rd quarter worth approximately $217,000. Dakota Wealth Management boosted its stake in McKesson by 24.2% in the 3rd quarter. Dakota Wealth Management now owns 1,290 shares of the company’s stock worth $561,000 after purchasing an additional 251 shares during the period. Raymond James & Associates grew its holdings in McKesson by 0.4% during the 3rd quarter. Raymond James & Associates now owns 144,396 shares of the company’s stock valued at $62,791,000 after buying an additional 533 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of McKesson by 1.3% during the third quarter. Stratos Wealth Partners LTD. now owns 2,275 shares of the company’s stock valued at $989,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on MCK. UBS Group raised their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Argus raised their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. SVB Leerink started coverage on McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Finally, Citigroup increased their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

McKesson Price Performance

Shares of MCK traded down $1.41 during midday trading on Friday, hitting $528.86. The stock had a trading volume of 866,981 shares, compared to its average volume of 626,262. The stock’s 50 day moving average is $530.38 and its 200 day moving average is $492.08. The firm has a market cap of $69.50 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

About McKesson

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.