Aviva PLC Sells 32,820 Shares of McKesson Co. (NYSE:MCK)

Aviva PLC cut its holdings in McKesson Co. (NYSE:MCK) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,586 shares of the company’s stock after selling 32,820 shares during the period. Aviva PLC owned about 0.09% of McKesson worth $61,884,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MCK. Millstone Evans Group LLC bought a new stake in McKesson during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at approximately $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the 4th quarter valued at approximately $33,000. Atala Financial Inc purchased a new stake in McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in McKesson in the fourth quarter worth $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK opened at $682.41 on Friday. The firm has a market cap of $85.52 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company has a 50-day moving average of $633.37 and a 200 day moving average of $585.40. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate 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 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. Wells Fargo & Company boosted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $661.00.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value 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. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 over the last quarter. 0.11% of the stock is owned by corporate 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.