McKesson Co. (NYSE:MCK) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators decreased its position in McKesson Co. (NYSE:MCK) by 15.1% during the 4th quarter, Holdings Channel reports. The fund owned 546 shares of the company’s stock after selling 97 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in McKesson were worth $311,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the third quarter valued at $29,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth about $33,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. Finally, Creative Capital Management Investments LLC purchased a new position in shares of McKesson in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCK. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,307 shares of company stock valued at $6,177,790 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.0 %

McKesson stock opened at $597.68 on Friday. The stock has a 50 day moving average of $589.02 and a two-hundred day moving average of $562.38. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a market capitalization of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.