McKesson Co. (NYSE:MCK) Position Lowered by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its position in McKesson Co. (NYSE:MCK) by 12.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,238 shares of the company’s stock after selling 180 shares during the quarter. KCM Investment Advisors LLC’s holdings in McKesson were worth $706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. increased its stake in McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Boston Partners lifted its position in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after buying an additional 216,432 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $682.41 on Friday. The firm has a market capitalization of $85.52 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The company’s 50 day simple moving average is $633.37 and its 200 day simple moving average is $585.40.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Mizuho raised their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $661.00.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock valued at $10,855,706 in the last quarter. Insiders own 0.11% of the company’s stock.

McKesson 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.