Mitsubishi UFJ Trust & Banking Corp Sells 18,071 Shares of McKesson Co. (NYSE:MCK)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in McKesson Co. (NYSE:MCK) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 119,493 shares of the company’s stock after selling 18,071 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.09% of McKesson worth $68,100,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the fourth quarter worth $28,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the 4th quarter worth about $33,000. Atala Financial Inc bought a new stake in shares of McKesson in the 4th quarter valued at about $34,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 0.3 %

McKesson stock opened at $662.71 on Wednesday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The company has a fifty day simple moving average of $619.05 and a 200 day simple moving average of $576.50. The company has a market cap of $83.05 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. On average, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Analyst Ratings Changes

Several equities research analysts have commented on MCK shares. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $649.36.

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.