Swiss National Bank Decreases Stake in McKesson Co. (NYSE:MCK)

Swiss National Bank decreased its holdings in McKesson Co. (NYSE:MCK) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 366,350 shares of the company’s stock after selling 18,700 shares during the quarter. Swiss National Bank’s holdings in McKesson were worth $208,787,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cibc World Market Inc. grew its holdings in shares of McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after acquiring an additional 1,207 shares during the period. Commerce Bank grew its holdings in McKesson by 2.0% in the third quarter. Commerce Bank now owns 156,781 shares of the company’s stock valued at $77,516,000 after purchasing an additional 3,020 shares during the last quarter. West Oak Capital LLC increased its position in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares in the last quarter. Brentview Investment Management LLC acquired a new position in shares of McKesson during the 4th quarter worth $3,018,000. Finally, Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Price Performance

Shares of MCK stock opened at $642.65 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $663.61. The firm’s 50-day simple moving average is $607.07 and its 200-day simple moving average is $569.97. The firm has a market cap of $80.54 billion, a P/E ratio of 29.43, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by corporate insiders.

About McKesson

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.