Shell Asset Management Co. Sells 1,655 Shares of McKesson Co. (NYSE:MCK)

Shell Asset Management Co. reduced its stake in McKesson Co. (NYSE:MCK) by 19.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,809 shares of the company’s stock after selling 1,655 shares during the quarter. Shell Asset Management Co.’s holdings in McKesson were worth $3,881,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MCK. Norges Bank bought a new position in McKesson in the 4th quarter valued at about $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $348,044,000. Marshall Wace LLP grew its position in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $182,861,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $178,397,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction 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 $36,276,465.36. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. UBS Group increased their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased 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. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

McKesson Stock Performance

MCK stock opened at $705.78 on Friday. The company has a fifty day moving average price of $681.75 and a 200-day moving average price of $625.19. The company has a market capitalization of $88.45 billion, a P/E ratio of 32.32, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio is presently 10.99%.

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.