McKesson Co. (NYSE:MCK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,787 shares of the company’s stock after selling 2,057 shares during the period. Corebridge Financial Inc.’s holdings in McKesson were worth $18,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Cibc World Market Inc. increased its holdings in shares of McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after purchasing an additional 1,207 shares in the last quarter. West Oak Capital LLC grew its position in McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock valued at $1,710,000 after buying an additional 2,690 shares during the period. Brentview Investment Management LLC purchased a new position in McKesson in the fourth quarter valued at $3,018,000. Ingalls & Snyder LLC raised its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after acquiring an additional 1,047 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $661.56 on Tuesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The stock has a market cap of $82.91 billion, a P/E ratio of 30.29, a P/E/G ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $617.68 and its 200-day simple moving average is $575.39.

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

McKesson Announces Dividend

The company 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup cut their target price 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. Two investment 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 MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $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. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last ninety days. 0.11% of the stock is owned by insiders.

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.