Cetera Investment Advisers Has $19.19 Million Stock Position in McKesson Co. (NYSE:MCK)

Cetera Investment Advisers cut its holdings in shares of McKesson Co. (NYSE:MCK) by 13.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 33,668 shares of the company’s stock after selling 5,406 shares during the quarter. Cetera Investment Advisers’ holdings in McKesson were worth $19,188,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in McKesson in the 4th quarter valued at $1,200,361,000. Marshall Wace LLP grew its position in McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after buying an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC bought a new position in McKesson during the fourth quarter valued at about $178,397,000. Alliancebernstein L.P. raised its holdings in McKesson by 46.6% in the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after acquiring an additional 272,068 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of McKesson by 259.7% in the 4th quarter. Voya Investment Management LLC now owns 338,378 shares of the company’s stock worth $192,845,000 after acquiring an additional 244,315 shares during the period. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 4.3 %

McKesson stock opened at $691.34 on Friday. The stock has a 50-day simple moving average of $677.23 and a 200 day simple moving average of $618.78. The stock has a market capitalization of $86.64 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.48.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. During the same period in the prior year, the firm earned $6.18 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson’s payout ratio is 13.00%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on 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 directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America lifted their target price on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $683.23.

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.