Gateway Advisory LLC Lowers Stock Position in McKesson Co. (NYSE:MCK)

Gateway Advisory LLC trimmed its holdings in McKesson Co. (NYSE:MCKFree Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 676 shares of the company’s stock after selling 29 shares during the quarter. Gateway Advisory LLC’s holdings in McKesson were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MCK. International Assets Investment Management LLC boosted its position in shares of McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares in the last quarter. Morgan Stanley grew its stake in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after acquiring an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock worth $104,178,000 after purchasing an additional 221,125 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, 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. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on MCK. Barclays increased their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore ISI boosted their target price on McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday. Citigroup raised their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

Get Our Latest Stock Report on McKesson

McKesson Price Performance

MCK stock traded up $4.79 during trading on Friday, hitting $559.91. 636,900 shares of the company traded hands, compared to its average volume of 757,040. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01. The stock’s 50-day simple moving average is $532.92 and its 200 day simple moving average is $495.34. The company has a market cap of $72.78 billion, a PE ratio of 25.02, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCKGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same period in the previous year, the firm posted $7.19 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

McKesson Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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