Cognios Beta Neutral Large Cap Fund LP Sells 930 Shares of McKesson Co. (NYSE:MCK)

Cognios Beta Neutral Large Cap Fund LP lowered its stake in shares of McKesson Co. (NYSE:MCK) by 62.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 566 shares of the company’s stock after selling 930 shares during the quarter. Cognios Beta Neutral Large Cap Fund LP’s holdings in McKesson were worth $262,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MCK. Wynn Capital LLC bought a new stake in shares of McKesson in the fourth quarter valued at approximately $1,978,000. Alaska Permanent Fund Corp boosted its position in shares of McKesson by 2,418.3% in the fourth quarter. Alaska Permanent Fund Corp now owns 12,264 shares of the company’s stock valued at $5,678,000 after acquiring an additional 11,777 shares during the period. Watershed Asset Management L.L.C. boosted its position in shares of McKesson by 9.9% in the fourth quarter. Watershed Asset Management L.L.C. now owns 643 shares of the company’s stock valued at $298,000 after acquiring an additional 58 shares during the period. GAMMA Investing LLC acquired a new position in shares of McKesson in the fourth quarter valued at $330,000. Finally, National Wealth Management Group LLC raised its stake in shares of McKesson by 18.6% in the fourth quarter. National Wealth Management Group LLC now owns 1,359 shares of the company’s stock valued at $629,000 after purchasing an additional 213 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.7 %

McKesson stock traded up $3.55 during mid-day trading on Wednesday, hitting $535.56. The stock had a trading volume of 418,139 shares, compared to its average volume of 687,556. The stock has a market capitalization of $70.38 billion, a PE ratio of 24.10, a P/E/G ratio of 1.43 and a beta of 0.45. The stock has a 50-day simple moving average of $526.12 and a two-hundred day simple moving average of $488.15. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is presently 11.24%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’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 owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’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 value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MCK shares. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Argus increased their price objective on McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays began coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Finally, Mizuho increased their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Company 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.