Amalgamated Bank Sells 472 Shares of McKesson Co. (NYSE:MCK)

Amalgamated Bank reduced its stake in McKesson Co. (NYSE:MCK) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,476 shares of the company’s stock after selling 472 shares during the quarter. Amalgamated Bank’s holdings in McKesson were worth $17,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Strategent Financial LLC bought a new stake in McKesson in the 4th quarter valued at $210,000. FourThought Financial Partners LLC bought a new stake in McKesson in the 4th quarter valued at $1,122,000. Twin Peaks Wealth Advisors LLC increased its holdings in McKesson by 2.8% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 953 shares of the company’s stock valued at $543,000 after acquiring an additional 26 shares during the last quarter. Pring Turner Capital Group Inc. increased its holdings in shares of McKesson by 0.4% in the 4th quarter. Pring Turner Capital Group Inc. now owns 6,515 shares of the company’s stock worth $3,713,000 after buying an additional 25 shares during the last quarter. Finally, Rothschild Investment LLC increased its holdings in shares of McKesson by 9.8% in the 4th quarter. Rothschild Investment LLC now owns 460 shares of the company’s stock worth $262,000 after buying an additional 41 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Trading Up 1.2 %

Shares of McKesson stock opened at $604.90 on Tuesday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a market capitalization of $75.81 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.29 and a beta of 0.52. The firm’s 50 day simple moving average is $589.71 and its two-hundred day simple moving average is $562.02.

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 analysts’ consensus estimates 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, sell-side analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is currently 13.00%.

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.