Pflug Koory LLC Lowers Stock Position in McKesson Co. (NYSE:MCK)

Pflug Koory LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,231 shares of the company’s stock after selling 145 shares during the period. McKesson comprises 0.9% of Pflug Koory LLC’s investment portfolio, making the stock its 23rd biggest holding. Pflug Koory LLC’s holdings in McKesson were worth $1,841,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC boosted its stake in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares during the period. Legal & General Group Plc increased its stake 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. Finally, The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Down 1.0 %

NYSE MCK opened at $591.47 on Friday. The business’s 50-day moving average price is $592.95 and its 200 day moving average price is $561.48. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market capitalization of $75.08 billion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

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

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. Leerink Partners lowered their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI lifted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $646.14.

McKesson Company 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.