Twin Capital Management Inc. Has $2.16 Million Stake in McKesson Co. (NYSE:MCK)

Twin Capital Management Inc. reduced its stake in McKesson Co. (NYSE:MCK) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,665 shares of the company’s stock after selling 61 shares during the period. Twin Capital Management Inc.’s holdings in McKesson were worth $2,160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MCK. Norges Bank bought a new position in McKesson during the 4th quarter worth approximately $633,960,000. International Assets Investment Management LLC boosted its holdings in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after acquiring an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in McKesson by 16.0% during the 3rd 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 during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after acquiring an additional 595,518 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after purchasing an additional 320,588 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 1.4 %

Shares of MCK opened at $518.81 on Friday. The business’s 50-day moving average price is $524.44 and its 200-day moving average price is $485.71. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The stock has a market cap of $68.18 billion, a PE ratio of 23.51, a P/E/G ratio of 1.43 and a beta of 0.45.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s payout ratio is 11.24%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Morgan Stanley lifted their target price on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group boosted their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $533.50.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the 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 sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by 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.