Icon Advisers Inc. Co. Reduced Holding in McKesson Corporation (MCK)

Icon Advisers Inc. Co. Reduced Holding in McKesson Corporation (MCK)

Icon Advisers Inc. Co. reduced its stake in McKesson Corporation (NYSE:MCK) by 25.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,200 shares of the company’s stock after selling 15,900 shares during the period. Icon Advisers Inc. Co.’s holdings in McKesson Corporation were worth $7,871,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. UBS Asset Management Americas Inc. raised its position in shares of McKesson Corporation by 16.6% in the third quarter. UBS Asset Management Americas Inc. now owns 773,709 shares of the company’s stock valued at $129,017,000 after buying an additional 110,017 shares during the last quarter. Coconut Grove Bank raised its stake in McKesson Corporation by 11.4% in the third quarter. Coconut Grove Bank now owns 1,643 shares of the company’s stock worth $274,000 after buying an additional 168 shares in the last quarter. TIAA CREF Trust Co. FSB MO raised its stake in McKesson Corporation by 0.4% in the third quarter. TIAA CREF Trust Co. FSB MO now owns 63,175 shares of the company’s stock worth $10,534,000 after buying an additional 241 shares in the last quarter. Lucus Advisors LLC raised its stake in McKesson Corporation by 27.4% in the third quarter. Lucus Advisors LLC now owns 2,383 shares of the company’s stock worth $397,000 after buying an additional 513 shares in the last quarter. Finally, Retirement Systems of Alabama raised its stake in McKesson Corporation by 48.3% in the third quarter. Retirement Systems of Alabama now owns 170,154 shares of the company’s stock worth $28,373,000 after buying an additional 55,435 shares in the last quarter. Institutional investors own 85.60% of the company’s stock.

McKesson Corporation (NYSE:MCK) traded up 0.22% during trading on Wednesday, hitting $139.45. 229,425 shares of the stock traded hands. The stock has a 50 day moving average price of $144.30 and a 200-day moving average price of $161.88. The stock has a market cap of $29.57 billion, a P/E ratio of 16.54 and a beta of 1.06. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $199.43.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.80%. McKesson Corporation’s dividend payout ratio (DPR) is presently 13.25%.

MCK has been the subject of a number of analyst reports. Mizuho lowered shares of McKesson Corporation from a “buy” rating to a “neutral” rating and set a $147.00 price objective for the company. in a research note on Tuesday, January 3rd. Robert W. Baird lowered shares of McKesson Corporation from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $200.00 to $164.00 in a research note on Friday, October 28th. Leerink Swann lowered shares of McKesson Corporation from an “outperform” rating to a “market perform” rating in a research note on Friday, October 28th. Vetr upgraded shares of McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $166.72 price objective for the company in a research note on Thursday, January 19th. Finally, Avondale Partners upgraded shares of McKesson Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $157.00 to $193.00 in a research note on Wednesday, January 18th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $176.11.

In other news, Director Wayne A. Budd sold 723 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $145.77, for a total transaction of $105,391.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Lori A. Schechter acquired 692 shares of the company’s stock in a transaction dated Wednesday, November 30th. The shares were purchased at an average cost of $144.52 per share, for a total transaction of $100,007.84. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by corporate insiders.

McKesson Corporation Company Profile

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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