Capital One National Association Decreased Stake in Mckesson Corp (NYSE:MCK) by $3.83 Million as Shares Declined


Capital One National Association decreased its stake in Mckesson Corp (NYSE:MCK) by 63.32% based on its latest 2016Q2 regulatory filing with the SEC. Capital One National Association sold 24,405 shares as the company’s stock declined 19.22% while stock markets rallied. The institutional investor held 14,135 shares of the other pharmaceuticals company at the end of 2016Q2, valued at $2.22M, down from 38,540 at the end of the previous reported quarter. Capital One National Association who had been investing in Mckesson Corp for a number of months, seems to be less bullish one the $40.66 billion market cap company. The stock decreased 2.59% or $4.68 on September 13, hitting $175.79. About 2.17M shares traded hands or 85.47% up from the average. McKesson Corporation (NYSE:MCK) has risen 19.15% since February 8, 2016 and is uptrending. It has outperformed by 2.67% the S&P500.

Capital One National Association, which manages about $1.10 billion US Long portfolio, upped its stake in Schein Henry Inc (NASDAQ:HSIC) by 21,018 shares to 37,153 shares, valued at $6.41 million in 2016Q2, according to the filing. It also increased its holding in Hanover Ins Group Inc (NYSE:THG) by 44,300 shares in the quarter, for a total of 56,977 shares, and has risen its stake in Alphabet Inc.

The institutional sentiment decreased to 0.83 in 2016 Q2. Its down 0.04, from 0.87 in 2016Q1. The ratio dropped, as 79 funds sold all MCK shares owned while 353 reduced positions. 88 funds bought stakes while 269 increased positions. They now own 186.66 million shares or 6.92% less from 200.54 million shares in 2016Q1.

Roystone Capital Management Lp holds 4.83% of its portfolio in MCK for 410,350 shares. Scharf Investments Llc owns 1.14 million shares or 4.77% of their US portfolio. Moreover, New Mountain Vantage Advisers L.L.C. has 4.74% invested in the company for 484,914 shares. The Illinois-based Institutional Capital Llc has invested 4.63% in the stock. Cam Group Holding A S, a Denmark-based fund reported 1.29 million shares.

Out of 15 analysts covering McKesson (NYSE:MCK), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. McKesson has been the topic of 28 analyst reports since September 21, 2015 according to StockzIntelligence Inc. Mizuho maintained the stock on August 11 with “Neutral” rating.

McKesson Corporation is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The company has a market cap of $40.66 billion. The Firm operates through two divisions: McKesson Distribution Solutions and Technology Solutions. It has a 17.22 P/E ratio. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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