Aviva PLC Decreases Stake in McKesson Co. (NYSE:MCK)

Aviva PLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 23.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,586 shares of the company’s stock after selling 32,820 shares during the quarter. Aviva PLC’s holdings in McKesson were worth $61,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MCK. Integrated Wealth Concepts LLC increased its holdings in shares of McKesson by 2.0% in the third quarter. Integrated Wealth Concepts LLC now owns 4,057 shares of the company’s stock valued at $2,006,000 after purchasing an additional 81 shares during the period. Redwood Investment Management LLC boosted its position in McKesson by 3.6% in the third quarter. Redwood Investment Management LLC now owns 2,767 shares of the company’s stock valued at $1,353,000 after buying an additional 96 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in McKesson by 2.4% in the 3rd quarter. Royal London Asset Management Ltd. now owns 60,606 shares of the company’s stock worth $29,965,000 after buying an additional 1,431 shares during the period. Stifel Financial Corp raised its position in McKesson by 31.8% during the 3rd quarter. Stifel Financial Corp now owns 59,869 shares of the company’s stock worth $29,602,000 after buying an additional 14,439 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of McKesson in the 3rd quarter valued at $921,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two equities 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $661.00.

McKesson Stock Down 4.8 %

Shares of NYSE MCK opened at $682.41 on Friday. The firm has a market cap of $85.52 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The company’s 50-day simple moving average is $633.37 and its 200-day simple moving average is $585.40. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. Equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed 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 yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated 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 approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company’s stock.

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.