Pzena Investment Management LLC Cuts Stock Holdings in McKesson Co. (NYSE:MCK)

Pzena Investment Management LLC trimmed its position in shares of McKesson Co. (NYSE:MCKFree Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,163 shares of the company’s stock after selling 756 shares during the quarter. Pzena Investment Management LLC’s holdings in McKesson were worth $45,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares during the last quarter. Morgan Stanley boosted its holdings in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the last quarter. Norges Bank purchased a new position in McKesson during the 4th quarter worth $1,024,140,000. Northern Trust Corp boosted its holdings in McKesson by 3.3% during the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after acquiring an additional 50,265 shares during the last quarter. Finally, Boston Partners boosted its holdings in McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the 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 transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 4,080 shares of company stock worth $2,160,489 over the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Robert W. Baird lifted their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Barclays boosted their price objective on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $571.47.

View Our Latest Report on MCK

McKesson Trading Up 0.9 %

Shares of McKesson stock traded up $4.98 on Thursday, reaching $562.36. The stock had a trading volume of 170,949 shares, compared to its average volume of 706,179. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.16. The company has a market cap of $73.10 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 1.29 and a beta of 0.45. The business’s 50 day moving average is $537.53 and its two-hundred day moving average is $501.48.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $7.19 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

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

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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