McKesson Co. (NYSE:MCK) Shares Sold by Swiss National Bank

Swiss National Bank lowered its holdings in McKesson Co. (NYSE:MCK) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,750 shares of the company’s stock after selling 14,100 shares during the period. Swiss National Bank owned about 0.32% of McKesson worth $195,262,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MCK. Intrust Bank NA acquired a new position in McKesson in the fourth quarter worth about $206,000. Raymond James & Associates raised its position in shares of McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock worth $39,714,000 after purchasing an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC acquired a new position in McKesson in the fourth quarter worth $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of McKesson during the fourth quarter worth $1,813,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Leann B. Smith sold 186 shares of the company’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 sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred 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 directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MCK. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Citigroup boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group raised their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Finally, StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.71.

McKesson Price Performance

Shares of NYSE:MCK traded down $1.42 on Friday, reaching $528.85. 866,904 shares of the company traded hands, compared to its average volume of 703,165. The stock has a market capitalization of $69.50 billion, a PE ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. The company’s 50 day moving average is $530.13 and its 200-day moving average is $491.57. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $544.81.

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

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is presently 11.24%.

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.