McKesson Co. (NYSE:MCK) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lessened its stake in McKesson Co. (NYSE:MCK) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,331 shares of the company’s stock after selling 142 shares during the period. Flputnam Investment Management Co.’s holdings in McKesson were worth $1,079,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after purchasing an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the period. Insight Wealth Strategies LLC purchased a new stake in McKesson during the 4th quarter worth about $1,813,000. Aspire Private Capital LLC increased its holdings in shares of McKesson by 3.2% in the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after acquiring an additional 60 shares during the last quarter. Finally, Argus Investors Counsel Inc. purchased a new position in shares of McKesson in the 4th quarter valued at about $891,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 1.1 %

McKesson stock opened at $528.42 on Wednesday. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The stock has a 50 day moving average of $523.77 and a two-hundred day moving average of $485.19. The stock has a market capitalization of $69.44 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.42 and a beta of 0.45.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Analysts Set New Price Targets

A number of research firms have recently commented on MCK. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective on the stock. UBS Group increased their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Citigroup upped their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Finally, Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Activity

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