McKesson Co. (NYSE:MCK) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. trimmed its position in shares of McKesson Co. (NYSE:MCK) by 2.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,721 shares of the company’s stock after selling 88 shares during the quarter. Meeder Advisory Services Inc.’s holdings in McKesson were worth $1,840,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. Legal & General Group Plc raised its position in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares in the last quarter. Swedbank AB acquired a new stake in McKesson in the first quarter valued at approximately $669,326,000. Boston Partners lifted its stake in McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after acquiring an additional 47,140 shares during the last quarter. AQR Capital Management LLC grew its holdings in McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after acquiring an additional 62,875 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MCK shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company cut their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup raised their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Performance

Shares of MCK opened at $615.61 on Tuesday. The firm has a 50-day simple moving average of $522.14 and a 200-day simple moving average of $555.17. The company has a market capitalization of $78.15 billion, a price-to-earnings ratio of 31.88, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.23 earnings per share. Equities research analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.