Intech Investment Management LLC Cuts Stock Holdings in McKesson Co. (NYSE:MCK)

Intech Investment Management LLC decreased its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,709 shares of the company’s stock after selling 861 shares during the quarter. Intech Investment Management LLC owned 0.06% of McKesson worth $36,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sachetta LLC purchased a new position in shares of McKesson during the fourth quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in McKesson in the 4th quarter worth approximately $31,000. WASHINGTON TRUST Co lifted its position in McKesson by 42.5% in the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in McKesson in the 4th quarter worth approximately $60,000. Finally, Milestone Investment Advisors LLC bought a new stake in McKesson in the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, Director Susan R. Salka sold 606 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,080 shares of company stock valued at $2,160,489. Insiders own 0.21% of the company’s stock.

McKesson Price Performance

MCK stock traded up $2.70 during midday trading on Friday, hitting $560.73. The stock had a trading volume of 512,352 shares, compared to its average volume of 810,789. The firm has a market cap of $72.89 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.31 and a beta of 0.45. The business has a 50-day moving average of $538.64 and a two-hundred day moving average of $502.88. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.16.

McKesson (NYSE:MCKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the prior year, the company posted $7.19 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Research analysts predict that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 11.08%.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Argus boosted their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. TD Cowen boosted their price objective on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Barclays boosted their price objective on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $571.47.

View Our Latest Research Report on McKesson

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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