McKesson Co. (NYSE:MCK) Shares Sold by Fmr LLC

Fmr LLC trimmed its position in McKesson Co. (NYSE:MCK) by 14.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,544,839 shares of the company’s stock after selling 423,400 shares during the quarter. Fmr LLC owned approximately 2.00% of McKesson worth $1,450,329,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MCK. Geode Capital Management LLC raised its holdings in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after purchasing an additional 10,015 shares in the last quarter. Franklin Resources Inc. raised its stake in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after acquiring an additional 114,396 shares in the last quarter. Norges Bank purchased a new stake in McKesson in the fourth quarter valued at $1,200,361,000. Boston Partners boosted its stake in McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings 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 worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. Wells Fargo & Company boosted their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.00.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock valued at $10,855,706. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Down 4.8 %

NYSE:MCK opened at $682.41 on Monday. The firm’s fifty day simple moving average is $633.37 and its 200 day simple moving average is $585.92. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market capitalization of $85.52 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s payout ratio is currently 13.00%.

About McKesson

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.