Cumberland Partners Ltd Sells 1,395 Shares of McKesson Co. (NYSE:MCK)

Cumberland Partners Ltd decreased its holdings in McKesson Co. (NYSE:MCK) by 11.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,899 shares of the company’s stock after selling 1,395 shares during the quarter. Cumberland Partners Ltd’s holdings in McKesson were worth $5,021,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. GAMMA Investing LLC acquired a new position in McKesson in the fourth quarter valued at $330,000. National Wealth Management Group LLC lifted its holdings in McKesson by 18.6% in the fourth quarter. National Wealth Management Group LLC now owns 1,359 shares of the company’s stock valued at $629,000 after buying an additional 213 shares during the period. Larson Financial Group LLC lifted its holdings in McKesson by 80.9% in the fourth quarter. Larson Financial Group LLC now owns 351 shares of the company’s stock valued at $163,000 after buying an additional 157 shares during the period. Aspire Private Capital LLC lifted its holdings in McKesson by 3.1% in the fourth quarter. Aspire Private Capital LLC now owns 2,018 shares of the company’s stock valued at $935,000 after buying an additional 61 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in McKesson by 9.1% in the fourth quarter. California Public Employees Retirement System now owns 668,340 shares of the company’s stock valued at $309,428,000 after buying an additional 55,965 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.9 %

MCK stock traded up $4.55 during trading on Tuesday, reaching $531.87. The stock had a trading volume of 490,759 shares, compared to its average volume of 687,474. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The company’s 50 day moving average is $526.12 and its two-hundred day moving average is $488.15. The company has a market capitalization of $69.89 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 0.45.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCK. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. Morgan Stanley upped their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Activity

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

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.