Meeder Advisory Services Inc. Has $2.15 Million Holdings in McKesson Co. (NYSE:MCK)

Meeder Advisory Services Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,773 shares of the company’s stock after purchasing an additional 52 shares during the period. Meeder Advisory Services Inc.’s holdings in McKesson were worth $2,150,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after buying an additional 114,396 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter valued at $1,200,361,000. Boston Partners raised its position in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after acquiring an additional 216,432 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock valued at $10,855,706 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MCK shares. Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.71.

McKesson Trading Up 3.0 %

Shares of NYSE MCK opened at $694.12 on Thursday. The company has a fifty day moving average price of $629.16 and a 200 day moving average price of $582.85. The firm has a market cap of $86.99 billion, a PE ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $695.46.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s payout ratio is currently 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.