Seizert Capital Partners LLC cut its stake in McKesson (NYSE:MCK) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 301,857 shares of the company’s stock after selling 3,219 shares during the period. McKesson makes up approximately 1.5% of Seizert Capital Partners LLC’s holdings, making the stock its 23rd largest holding. Seizert Capital Partners LLC’s holdings in McKesson were worth $42,523,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MCK. Icon Wealth Partners LLC bought a new stake in McKesson in the 4th quarter valued at $111,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in McKesson by 176.6% in the 4th quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 769 shares of the company’s stock valued at $130,000 after purchasing an additional 491 shares during the period. Certified Advisory Corp boosted its holdings in McKesson by 86.8% in the 1st quarter. Certified Advisory Corp now owns 964 shares of the company’s stock valued at $135,000 after purchasing an additional 448 shares during the period. Jacobi Capital Management LLC boosted its holdings in McKesson by 61.5% in the 1st quarter. Jacobi Capital Management LLC now owns 985 shares of the company’s stock valued at $138,000 after purchasing an additional 375 shares during the period. Finally, Hikari Tsushin Inc. bought a new stake in McKesson in the 4th quarter valued at $151,000. 88.37% of the stock is owned by hedge funds and other institutional investors.
MCK has been the subject of a number of research reports. Jefferies Group raised shares of McKesson from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a report on Wednesday, January 24th. Mizuho set a $186.00 price target on shares of McKesson and gave the company a “hold” rating in a report on Wednesday, January 24th. Credit Suisse Group reissued a “sell” rating and issued a $130.00 price target on shares of McKesson in a report on Friday, February 2nd. Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a report on Friday, February 2nd. Finally, ValuEngine downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. McKesson has a consensus rating of “Hold” and a consensus target price of $175.53.
McKesson opened at $146.83 on Thursday, Marketbeat.com reports. The stock has a market cap of $30.22 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.31. McKesson has a 52 week low of $134.25 and a 52 week high of $178.86. The company has a quick ratio of 0.61, a current ratio of 1.07 and a debt-to-equity ratio of 0.63.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Thursday, May 31st. McKesson’s payout ratio is 11.71%.
In related news, SVP Erin M. Lampert sold 1,413 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $149.38, for a total transaction of $211,073.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. The company operates in two segments, McKesson Distribution Solutions and McKesson Technology Solutions. The McKesson Distribution Solutions segment distributes branded and generic pharmaceutical drugs, and other healthcare-related products; and provides practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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