Vestcor Inc Reduces Stake in McKesson Co. (NYSE:MCK)

Vestcor Inc decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,035 shares of the company’s stock after selling 69 shares during the quarter. Vestcor Inc’s holdings in McKesson were worth $2,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter worth $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter valued at $32,000. Crews Bank & Trust purchased a new position in shares of McKesson during the fourth quarter worth about $33,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK stock opened at $650.96 on Friday. The business’s fifty day moving average price is $608.54 and its 200 day moving average price is $570.71. The firm has a market capitalization of $81.58 billion, a PE ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $663.62.

McKesson (NYSE:MCK) last posted 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 negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 in the last quarter. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Company 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.