TIAA Trust National Association Increases Stock Position in McKesson Co. (NYSE:MCK)

TIAA Trust National Association increased its position in McKesson Co. (NYSE:MCK) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,966 shares of the company’s stock after buying an additional 166 shares during the quarter. TIAA Trust National Association’s holdings in McKesson were worth $4,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of McKesson in the 4th quarter worth about $28,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in McKesson during the fourth quarter worth approximately $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter worth $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,689 shares of company stock valued at $11,187,351. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $662.45 on Thursday. The firm has a market cap of $83.02 billion, a PE ratio of 30.33, a price-to-earnings-growth 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 $670.79. The firm’s 50-day simple moving average is $620.63 and its 200-day simple moving average is $577.10.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s payout ratio is 13.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

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.