McKesson Co. (NYSE:MCK) Stock Position Trimmed by C WorldWide Group Holding A S

C WorldWide Group Holding A S trimmed its stake in shares of McKesson Co. (NYSE:MCK) by 13.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,332 shares of the company’s stock after selling 702 shares during the quarter. C WorldWide Group Holding A S’s holdings in McKesson were worth $2,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of McKesson during the 3rd quarter worth about $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson during the 3rd quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in shares of McKesson during the 4th quarter worth about $31,000. Avior Wealth Management LLC raised its position in shares of McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after buying an additional 28 shares in the last quarter. Finally, WASHINGTON TRUST Co raised its position in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK traded up $3.36 on Friday, reaching $543.30. 654,669 shares of the company traded hands, compared to its average volume of 493,786. The stock’s 50 day moving average price is $528.15 and its 200-day moving average price is $489.48. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The company has a market cap of $71.40 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the previous year, the firm posted $6.90 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio is 11.24%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. 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 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price on the stock. Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, Mizuho lifted their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $533.50.

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.