McKesson Co. (NYSE:MCK) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. lessened its position in shares of McKesson Co. (NYSE:MCK) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,665 shares of the company’s stock after selling 61 shares during the quarter. Twin Capital Management Inc.’s holdings in McKesson were worth $2,160,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 16.0% during 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 purchasing an additional 708,438 shares in the last quarter. Morgan Stanley lifted its holdings in shares of McKesson by 14.0% in the 3rd 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 last quarter. Norges Bank acquired a new position in shares of McKesson in the 4th quarter worth approximately $633,960,000. Northern Trust Corp lifted its holdings in shares of McKesson by 3.3% in the 3rd 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 last quarter. Finally, Boston Partners lifted its holdings in shares of McKesson by 12.5% in the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 1.4 %

Shares of MCK stock opened at $518.81 on Friday. The stock has a market cap of $68.18 billion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The firm’s 50 day moving average price is $524.44 and its two-hundred day moving average price is $485.71.

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

McKesson Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on MCK shares. SVB Leerink began coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price on the stock. Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Argus increased their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Barclays initiated coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity

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