McKesson Co. (NYSE:MCK) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in McKesson Co. (NYSE:MCK) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 135,355 shares of the company’s stock after selling 34,270 shares during the period. Sei Investments Co.’s holdings in McKesson were worth $77,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its holdings in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after buying an additional 17 shares during the period. Old North State Trust LLC lifted its holdings in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont boosted its position in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after purchasing an additional 18 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its stake in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MCK shares. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Citigroup decreased 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. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

McKesson Stock Performance

Shares of MCK opened at $659.45 on Friday. The company has a market capitalization of $82.65 billion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The company’s 50 day simple moving average is $616.14 and its 200 day simple moving average is $574.33.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business 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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 in the last three months. Company insiders own 0.11% of the company’s stock.

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.