TIAA Trust National Association Sells 30 Shares of McKesson Co. (NYSE:MCK)

TIAA Trust National Association decreased its holdings in McKesson Co. (NYSE:MCKFree Report) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,321 shares of the company’s stock after selling 30 shares during the quarter. TIAA Trust National Association’s holdings in McKesson were worth $3,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its stake in shares of McKesson by 3.0% in the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock worth $2,784,399,000 after acquiring an additional 187,371 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after acquiring an additional 708,438 shares during the period. Morgan Stanley boosted its stake in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the period. Norges Bank bought a new position in shares of McKesson in the fourth quarter worth about $633,960,000. Finally, Northern Trust Corp boosted its stake in shares of McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after acquiring an additional 50,265 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MCK shares. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. SVB Leerink started coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, TD Cowen increased their price target on McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $522.21.

View Our Latest Stock Report on MCK

McKesson Price Performance

NYSE:MCK opened at $533.27 on Wednesday. The firm has a market capitalization of $70.08 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.46 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $540.00. The business has a 50 day simple moving average of $515.89 and a 200-day simple moving average of $477.96.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period last year, the company earned $6.90 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 27.61 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson’s payout ratio is 11.24%.

McKesson Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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