Mutual Advisors LLC Sells 85 Shares of McKesson Co. (NYSE:MCK)

Mutual Advisors LLC cut its position in shares of McKesson Co. (NYSE:MCK) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,947 shares of the company’s stock after selling 85 shares during the period. Mutual Advisors LLC’s holdings in McKesson were worth $1,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC raised its position in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its position in shares of McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after acquiring an additional 26,299 shares in the last quarter. Legal & General Group Plc raised its position in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $591.47 on Friday. The stock’s 50-day simple moving average is $592.95 and its 200-day simple moving average is $561.48. The firm has a market capitalization of $75.08 billion, a PE ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company earned $6.23 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s payout ratio is 14.71%.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $646.14.

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.