McKesson Co. (NYSE:MCK) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in McKesson Co. (NYSE:MCK) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,101 shares of the company’s stock after selling 18,183 shares during the period. Commonwealth Equity Services LLC’s holdings in McKesson were worth $29,693,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MCK. Balboa Wealth Partners grew its holdings in McKesson by 71.5% during the 4th quarter. Balboa Wealth Partners now owns 1,077 shares of the company’s stock valued at $614,000 after buying an additional 449 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in McKesson by 1.9% during the 4th quarter. Achmea Investment Management B.V. now owns 49,386 shares of the company’s stock valued at $28,146,000 after buying an additional 922 shares during the last quarter. Tredje AP fonden grew its holdings in McKesson by 19.6% during the 4th quarter. Tredje AP fonden now owns 116,575 shares of the company’s stock valued at $66,437,000 after buying an additional 19,075 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in McKesson by 300.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,975 shares of the company’s stock valued at $1,126,000 after buying an additional 1,482 shares during the last quarter. Finally, Essential Planning LLC. acquired a new stake in McKesson during the 4th quarter valued at $5,996,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.1 %

Shares of MCK opened at $650.96 on Friday. The stock’s fifty day simple moving average is $608.54 and its 200 day simple moving average is $570.85. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $663.62. The firm has a market capitalization of $81.58 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. Bank of America lowered their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were 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 $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 over the last three months. 0.11% of the stock is owned by company 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.