Weatherly Asset Management L. P. Reduces Holdings in McKesson Co. (NYSE:MCK)

Weatherly Asset Management L. P. decreased its position in shares of McKesson Co. (NYSE:MCK) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,028 shares of the company’s stock after selling 293 shares during the quarter. Weatherly Asset Management L. P.’s holdings in McKesson were worth $3,258,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. International Assets Investment Management LLC raised its position in shares of 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 purchasing an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position 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 purchasing an additional 708,438 shares during the period. Morgan Stanley boosted its position in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in McKesson by 92.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 buying an additional 221,125 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK traded up $4.55 during mid-day trading on Tuesday, reaching $531.87. 490,759 shares of the company’s stock were exchanged, compared to its average volume of 687,474. McKesson Co. has a one year low of $352.34 and a one year high of $543.00. The firm has a market capitalization of $69.89 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The business’s fifty day simple moving average is $525.58 and its two-hundred day simple moving average is $487.54.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is 11.24%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly 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 Ratings Changes

MCK has been the topic of several research reports. Citigroup increased their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. SVB Leerink started coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.