Haverford Trust Co Sells 894 Shares of McKesson Co. (NYSE:MCK)

Haverford Trust Co reduced its position in shares of McKesson Co. (NYSE:MCK) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,367 shares of the company’s stock after selling 894 shares during the period. Haverford Trust Co owned approximately 0.11% of McKesson worth $79,997,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cibc World Market Inc. boosted its position 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 acquiring an additional 1,207 shares during the last quarter. West Oak Capital LLC lifted 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 purchasing an additional 2,690 shares during the last quarter. Brentview Investment Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings 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 during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Wells Fargo & Company boosted their target price on 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 lifted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $649.36.

McKesson Price Performance

Shares of NYSE MCK opened at $659.45 on Monday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $673.23. The company’s 50-day moving average is $616.14 and its 200 day moving average is $574.35. The stock has a market capitalization of $82.65 billion, a P/E ratio of 30.19, a P/E/G ratio of 1.29 and a beta of 0.52.

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 net margin of 0.82% and a negative return on equity of 181.26%. Research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

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

About McKesson

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.