Northern Trust Corp Grows Position in McKesson Co. (NYSE:MCK)

Northern Trust Corp grew its stake in shares of McKesson Co. (NYSE:MCK) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,532,203 shares of the company’s stock after buying an additional 126,940 shares during the period. Northern Trust Corp’s holdings in McKesson were worth $873,218,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. Te Ahumairangi Investment Management Ltd grew its position in shares of McKesson by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 11,729 shares of the company’s stock valued at $5,766,000 after purchasing an additional 1,890 shares during the period. World Investment Advisors LLC purchased a new stake in shares of McKesson in the third quarter valued at $2,229,000. Wilmington Savings Fund Society FSB grew its position in shares of McKesson by 817.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 5,622 shares of the company’s stock valued at $2,780,000 after purchasing an additional 5,009 shares during the period. Tidal Investments LLC grew its position in shares of McKesson by 453.8% in the third quarter. Tidal Investments LLC now owns 52,992 shares of the company’s stock valued at $26,200,000 after purchasing an additional 43,424 shares during the period. Finally, Castellan Group grew its position in shares of McKesson by 4.0% in the third quarter. Castellan Group now owns 10,200 shares of the company’s stock valued at $5,043,000 after purchasing an additional 391 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $699.78 on Tuesday. The stock’s 50-day moving average is $663.22 and its two-hundred day moving average is $609.22. The stock has a market cap of $87.70 billion, a PE ratio of 32.04, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Bank of America boosted their price target on McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Mizuho boosted their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Finally, Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Three research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $668.50.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is currently owned by corporate insiders.

McKesson 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.