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

Xponance Inc. cut its holdings in McKesson Co. (NYSE:MCK) by 11.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,400 shares of the company’s stock after selling 3,022 shares during the quarter. Xponance Inc.’s holdings in McKesson were worth $10,371,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Norges Bank purchased a new stake in shares of McKesson in the fourth quarter valued at approximately $633,960,000. International Assets Investment Management LLC raised its stake in McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in McKesson by 94,078.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after purchasing an additional 595,518 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in McKesson by 53.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after purchasing an additional 320,588 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of NYSE MCK traded up $0.35 during mid-day trading on Friday, reaching $519.16. 75,162 shares of the company’s stock were exchanged, compared to its average volume of 681,007. The firm has a market capitalization of $68.22 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 1.43 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00. The company’s 50-day moving average is $524.44 and its 200-day moving average is $485.71.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $6.90 EPS. As a group, equities analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is 11.24%.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Citigroup increased their price objective on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays initiated coverage on McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Argus increased their price objective on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

Insider Activity at McKesson

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

About McKesson

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.