Simmons Bank Sells 100 Shares of McKesson Co. (NYSE:MCK)

Simmons Bank lowered its stake in McKesson Co. (NYSE:MCK) by 9.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 936 shares of the company’s stock after selling 100 shares during the period. Simmons Bank’s holdings in McKesson were worth $533,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC grew its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 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 buying an additional 162,688 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm’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 transaction, 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. Over the last quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $621.03 on Friday. The business has a fifty day simple moving average of $592.91 and a two-hundred day simple moving average of $563.46. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company has a market capitalization of $77.83 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS 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%. As a group, equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Morgan Stanley boosted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

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.