Atalanta Sosnoff Capital LLC Has $41.79 Million Stock Position in McKesson Co. (NYSE:MCK)

Atalanta Sosnoff Capital LLC cut its holdings in shares of McKesson Co. (NYSE:MCK) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,320 shares of the company’s stock after selling 1,141 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in McKesson were worth $41,786,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Frank Rimerman Advisors LLC raised its position in shares of McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock valued at $460,000 after acquiring an additional 17 shares during the last quarter. Trust Co. of Vermont increased its holdings in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management lifted its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the period. First Western Trust Bank boosted its holdings in McKesson by 2.0% during the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after buying an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in shares of McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last 90 days. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Three research 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 company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $681.00.

McKesson Stock Performance

MCK opened at $707.28 on Friday. The business’s 50-day simple moving average is $671.24 and its 200 day simple moving average is $613.31. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The firm has a market capitalization of $88.64 billion, a PE ratio of 32.38, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s payout ratio is 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.