Cognios Beta Neutral Large Cap Fund LP Has $262,000 Holdings in McKesson Co. (NYSE:MCK)

Cognios Beta Neutral Large Cap Fund LP decreased its stake in McKesson Co. (NYSE:MCK) by 62.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other institutional investors have also recently bought and sold shares of MCK. Legacy Financial Group LLC bought a new stake in McKesson in the third quarter valued at about $27,000. OFI Invest Asset Management acquired a new position in McKesson in the third quarter valued at about $26,000. BKM Wealth Management LLC acquired a new position in McKesson in the fourth quarter valued at about $31,000. Avior Wealth Management LLC grew its stake in McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after acquiring an additional 28 shares during the period. Finally, WASHINGTON TRUST Co grew its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MCK shares. Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Barclays initiated coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were 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 in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

McKesson Price Performance

Shares of NYSE:MCK traded up $3.55 during trading on Wednesday, hitting $535.56. 418,139 shares of the company were exchanged, compared to its average volume of 687,556. The company has a market cap 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 moving average of $526.12 and a 200 day moving average of $488.15. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

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

McKesson Dividend Announcement

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 paid 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%.

McKesson 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.