Diversified Trust Co Lowers Stock Position in McKesson Co. (NYSE:MCK)

Diversified Trust Co lessened its stake in McKesson Co. (NYSE:MCK) by 17.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,015 shares of the company’s stock after selling 1,448 shares during the quarter. Diversified Trust Co’s holdings in McKesson were worth $3,998,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. Bank of New Hampshire increased its position in shares of McKesson by 24.2% during the 4th quarter. Bank of New Hampshire now owns 154 shares of the company’s stock valued at $88,000 after purchasing an additional 30 shares during the last quarter. Insight Wealth Strategies LLC grew its position in McKesson by 11.0% during the fourth quarter. Insight Wealth Strategies LLC now owns 8,420 shares of the company’s stock valued at $4,799,000 after acquiring an additional 831 shares during the last quarter. CWA Asset Management Group LLC raised its stake in shares of McKesson by 9.5% during the fourth quarter. CWA Asset Management Group LLC now owns 921 shares of the company’s stock worth $525,000 after acquiring an additional 80 shares in the last quarter. Pensionfund Sabic lifted its holdings in shares of McKesson by 49.0% in the 4th quarter. Pensionfund Sabic now owns 3,650 shares of the company’s stock worth $2,080,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

MCK stock traded up $6.53 during trading on Tuesday, reaching $586.96. The company had a trading volume of 108,959 shares, compared to its average volume of 503,232. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The business has a 50 day moving average of $586.13 and a 200 day moving average of $561.38. The company has a market cap of $74.51 billion, a P/E ratio of 30.40, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the company earned $6.23 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

A number of brokerages recently commented on MCK. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $648.71.

McKesson 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.