Sara Bay Financial Has $556,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Sara Bay Financial lessened its position in McKesson Co. (NYSE:MCK – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,483 shares of the company’s stock after selling 48 shares during the quarter. Sara Bay Financial’s holdings in McKesson were worth $556,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CX Institutional raised its position in McKesson by 14.9% in the 3rd quarter. CX Institutional now owns 901 shares of the company’s stock valued at $306,000 after buying an additional 117 shares during the last quarter. Atria Wealth Solutions Inc. raised its position in McKesson by 86.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,274 shares of the company’s stock valued at $1,396,000 after buying an additional 1,979 shares during the last quarter. Continental Investors Services Inc. acquired a new stake in McKesson in the 3rd quarter valued at approximately $4,310,000. Activest Wealth Management acquired a new stake in McKesson in the 3rd quarter valued at approximately $632,000. Finally, Commerce Bank increased its position in shares of McKesson by 11.8% during the 2nd quarter. Commerce Bank now owns 171,550 shares of the company’s stock worth $55,961,000 after purchasing an additional 18,042 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group lowered their price target on McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a research report on Tuesday, January 31st. Robert W. Baird boosted their price target on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. StockNews.com assumed coverage on McKesson in a research report on Thursday. They set a “strong-buy” rating on the stock. Finally, Morgan Stanley boosted their price target on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.30.

McKesson Trading Down 0.2 %

Shares of NYSE MCK opened at $339.35 on Friday. McKesson Co. has a 12 month low of $292.40 and a 12 month high of $401.78. The stock has a 50 day moving average of $362.87 and a 200-day moving average of $366.41. The company has a market capitalization of $46.47 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.27 and a beta of 0.59.

McKesson (NYSE:MCK – Get Rating) last issued its earnings results on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, topping the consensus estimate of $6.36 by $0.54. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The company had revenue of $70.49 billion during the quarter, compared to the consensus estimate of $70.98 billion. During the same period in the previous year, the company posted $6.15 EPS. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts predict that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be paid a $0.54 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 0.64%. McKesson’s dividend payout ratio (DPR) is presently 9.88%.

Insider Activity at McKesson

In related news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 7,416 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares of the company’s stock, valued at $28,780,060. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).