McKesson Co. (NYSE:MCK) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in McKesson Co. (NYSE:MCK) by 6.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 31,787 shares of the company’s stock after selling 2,057 shares during the quarter. Corebridge Financial Inc.’s holdings in McKesson were worth $18,116,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Millstone Evans Group LLC purchased a new stake in McKesson during the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter worth $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at $34,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at $31,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Mizuho initiated coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Price Performance

MCK stock opened at $661.56 on Tuesday. The company has a market cap of $82.91 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a fifty day moving average price of $617.68 and a 200 day moving average price of $575.39. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $670.79.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by company 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.