Panagora Asset Management Inc. Reduces Position in McKesson Co. (NYSE:MCK)

Panagora Asset Management Inc. lessened its stake in shares of McKesson Co. (NYSE:MCK) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 235,614 shares of the company’s stock after selling 19,288 shares during the period. Panagora Asset Management Inc. owned approximately 0.15% of McKesson worth $46,977,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. QV Investors Inc. boosted its holdings in shares of McKesson by 3.9% in the 3rd quarter. QV Investors Inc. now owns 76,350 shares of the company’s stock valued at $15,223,000 after acquiring an additional 2,840 shares during the last quarter. Garrett Investment Advisors LLC raised its position in McKesson by 8.2% during the third quarter. Garrett Investment Advisors LLC now owns 2,801 shares of the company’s stock worth $558,000 after acquiring an additional 212 shares during the period. Squarepoint Ops LLC acquired a new position in McKesson during the second quarter worth $438,000. Cipher Capital LP raised its position in McKesson by 96.3% during the second quarter. Cipher Capital LP now owns 3,744 shares of the company’s stock worth $716,000 after acquiring an additional 1,837 shares during the period. Finally, Morgan Stanley raised its position in McKesson by 14.0% during the second quarter. Morgan Stanley now owns 1,054,067 shares of the company’s stock worth $201,580,000 after acquiring an additional 129,753 shares during the period. 85.12% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on MCK shares. Argus upped their price objective on shares of McKesson from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Morgan Stanley increased their target price on shares of McKesson from $252.00 to $292.00 and gave the company an “overweight” rating in a research report on Friday, December 17th. Barclays increased their target price on shares of McKesson from $270.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, December 9th. Mizuho increased their target price on shares of McKesson from $236.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, December 20th. Finally, Bank of America increased their target price on shares of McKesson from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, December 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $277.42.

In other news, EVP Tracy Faber sold 8,426 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $222.92, for a total transaction of $1,878,323.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 8,022 shares of McKesson stock in a transaction on Monday, October 25th. The shares were sold at an average price of $210.00, for a total transaction of $1,684,620.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,633 shares of company stock worth $15,322,645. Insiders own 0.28% of the company’s stock.

MCK stock opened at $256.52 on Friday. McKesson Co. has a twelve month low of $169.34 and a twelve month high of $256.85. The company’s 50 day moving average is $233.38 and its two-hundred day moving average is $212.52. The stock has a market cap of $39.17 billion, a P/E ratio of -8.52, a PEG ratio of 1.24 and a beta of 0.79.

McKesson (NYSE:MCK) last released its quarterly earnings data on Sunday, October 31st. The company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.66 by $1.49. McKesson had a negative net margin of 1.92% and a negative return on equity of 5,793.16%. The company had revenue of $66.58 billion for the quarter, compared to analysts’ expectations of $63.23 billion. During the same quarter last year, the company earned $4.80 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 22.71 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Stockholders of record on Wednesday, December 1st were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, November 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.73%. McKesson’s dividend payout ratio (DPR) is presently -6.25%.

McKesson Company Profile

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“).

Featured Article: Gap Down Stocks

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.