Elo Mutual Pension Insurance Co Sells 482 Shares of McKesson Co. (NYSE:MCK)

Elo Mutual Pension Insurance Co lowered its position in shares of McKesson Co. (NYSE:MCK) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,834 shares of the company’s stock after selling 482 shares during the period. Elo Mutual Pension Insurance Co’s holdings in McKesson were worth $6,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Cibc World Market Inc. grew its position in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares in the last quarter. West Oak Capital LLC boosted its stake in McKesson by 867.7% during 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 during the period. Brentview Investment Management LLC purchased a new position in McKesson during the fourth quarter worth about $3,018,000. Ingalls & Snyder LLC increased its stake in 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 acquiring an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings 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 acquiring an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock worth $11,187,351. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $666.40 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The stock’s 50 day simple moving average is $622.07 and its 200 day simple moving average is $577.72. The firm has a market cap of $83.52 billion, a price-to-earnings ratio of 30.51, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed 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 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Finally, Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $649.36.

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.