Geneva Partners LLC Sells 1,890 Shares of McKesson Co. (NYSE:MCK)

Geneva Partners LLC cut its position in McKesson Co. (NYSE:MCK) by 18.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,560 shares of the company’s stock after selling 1,890 shares during the quarter. McKesson comprises about 2.2% of Geneva Partners LLC’s holdings, making the stock its 17th largest position. Geneva Partners LLC’s holdings in McKesson were worth $3,963,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake 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 valued at $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley raised its stake in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Norges Bank bought a new position in McKesson in the 4th quarter worth about $633,960,000. Northern Trust Corp increased its stake in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after acquiring an additional 50,265 shares during the last quarter. Finally, Boston Partners increased its stake in McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday. Citigroup upped their price objective on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, UBS Group upped their price objective on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Trading Up 1.2 %

NYSE MCK traded up $6.02 on Friday, hitting $524.83. The company’s stock had a trading volume of 645,368 shares, compared to its average volume of 688,808. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The company’s 50-day simple moving average is $524.91 and its 200 day simple moving average is $486.31. The firm has a market cap of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping 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 business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter last year, the business posted $6.90 EPS. The business’s revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In related news, 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 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 filing with the SEC, which can be accessed through this link. 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 transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on 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 owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% 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.