McKesson Co. (NYSE:MCK) Shares Sold by Vestcor Inc

by · The Markets Daily

Vestcor Inc cut its position in McKesson Co. (NYSE:MCK – Free Report) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,035 shares of the company’s stock after selling 69 shares during the period. Vestcor Inc’s holdings in McKesson were worth $2,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of McKesson by 300.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,975 shares of the company’s stock worth $1,126,000 after buying an additional 1,482 shares in the last quarter. Essential Planning LLC. purchased a new stake in McKesson during the 4th quarter valued at about $5,996,000. EverSource Wealth Advisors LLC grew its stake in McKesson by 7.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,007 shares of the company’s stock valued at $1,144,000 after acquiring an additional 144 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in McKesson by 6.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,008 shares of the company’s stock valued at $3,994,000 after acquiring an additional 414 shares during the last quarter. Finally, PFG Advisors purchased a new position in McKesson in the 4th quarter worth approximately $228,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

View Our Latest Report on MCK

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade 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 business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Up 1.1 %

MCK stock opened at $650.96 on Friday. The business’s fifty day moving average price is $608.54 and its 200 day moving average price is $570.71. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $663.62. The company has a market capitalization of $81.58 billion, a PE ratio of 29.81, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. Research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

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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