McKesson Co. (NYSE:MCK) Shares Sold by TIAA Trust National Association

TIAA Trust National Association decreased its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,321 shares of the company’s stock after selling 30 shares during the period. TIAA Trust National Association’s holdings in McKesson were worth $3,389,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. FAS Wealth Partners Inc. acquired a new stake in shares of McKesson during the fourth quarter worth about $268,000. Drive Wealth Management LLC raised its holdings in McKesson by 4.3% during the fourth quarter. Drive Wealth Management LLC now owns 952 shares of the company’s stock worth $441,000 after purchasing an additional 39 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in McKesson by 1.8% during the fourth quarter. Pinnacle Financial Partners Inc now owns 1,998 shares of the company’s stock worth $925,000 after purchasing an additional 36 shares in the last quarter. Veracity Capital LLC raised its holdings in McKesson by 5.2% during the fourth quarter. Veracity Capital LLC now owns 2,426 shares of the company’s stock worth $1,123,000 after purchasing an additional 119 shares in the last quarter. Finally, Chicago Capital LLC purchased a new position in McKesson during the fourth quarter worth about $7,484,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. TD Cowen increased their price target on shares of McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. UBS Group increased their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $522.21.

Get Our Latest Stock Analysis on MCK

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $533.27 on Wednesday. The firm has a 50 day simple moving average of $515.89 and a 200-day simple moving average of $477.96. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00. The stock has a market cap of $70.08 billion, a price-to-earnings ratio of 24.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period last year, the company posted $6.90 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 11.24%.

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.

See Also

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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