Citigroup Inc. Sells 80,099 Shares of McKesson Co. (NYSE:MCK)

Citigroup Inc. lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 39.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,244 shares of the company’s stock after selling 80,099 shares during the quarter. Citigroup Inc. owned about 0.08% of McKesson worth $23,952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Cadence Bank NA raised its holdings in shares of McKesson by 1.0% during the 2nd quarter. Cadence Bank NA now owns 5,168 shares of the company’s stock valued at $989,000 after purchasing an additional 52 shares in the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of McKesson by 0.5% during the 1st quarter. Elo Mutual Pension Insurance Co now owns 11,584 shares of the company’s stock valued at $2,259,000 after purchasing an additional 53 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of McKesson by 2.2% during the 1st quarter. Blair William & Co. IL now owns 2,545 shares of the company’s stock valued at $496,000 after purchasing an additional 54 shares in the last quarter. Penserra Capital Management LLC grew its stake in McKesson by 18.6% in the 1st quarter. Penserra Capital Management LLC now owns 408 shares of the company’s stock valued at $79,000 after buying an additional 64 shares during the last quarter. Finally, Atlas Capital Advisors LLC grew its stake in McKesson by 1.5% in the 1st quarter. Atlas Capital Advisors LLC now owns 4,291 shares of the company’s stock valued at $837,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

In related news, CEO Brian S. Tyler sold 1,467 shares of McKesson stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $203.84, for a total transaction of $299,033.28. Following the completion of the transaction, the chief executive officer now directly owns 26,106 shares of the company’s stock, valued at approximately $5,321,447.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lori A. Schechter sold 14,419 shares of McKesson stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $203.03, for a total transaction of $2,927,489.57. Following the transaction, the executive vice president now directly owns 14,419 shares of the company’s stock, valued at $2,927,489.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,971 shares of company stock worth $7,726,342. 0.28% of the stock is owned by company insiders.

MCK has been the topic of a number of research analyst reports. Credit Suisse Group raised their target price on shares of McKesson from $222.00 to $224.00 and gave the company a “neutral” rating in a research note on Monday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of McKesson from $237.00 to $261.00 and gave the company a “buy” rating in a research note on Thursday, August 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $224.13.

Shares of McKesson stock opened at $207.75 on Friday. The company has a debt-to-equity ratio of 82.70, a quick ratio of 0.53 and a current ratio of 0.99. The firm’s 50-day simple moving average is $200.69 and its 200-day simple moving average is $194.50. McKesson Co. has a twelve month low of $141.32 and a twelve month high of $210.00. The firm has a market cap of $32.13 billion, a P/E ratio of -7.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.88.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 4th. The company reported $5.56 earnings per share for the quarter, beating the consensus estimate of $4.09 by $1.47. McKesson had a negative net margin of 1.83% and a positive return on equity of 216.39%. The business had revenue of $62.67 billion for the quarter, compared to analyst estimates of $60.16 billion. During the same period in the previous year, the business earned $2.77 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that McKesson Co. will post 20.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 1st will be given a dividend of $0.47 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.42. This represents a $1.88 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, August 31st. McKesson’s payout ratio is 10.92%.

McKesson 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 Story: What is dividend yield?

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCK).

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.