GTS Securities LLC Reduces Stock Position in McKesson Co. (NYSE:MCK)

GTS Securities LLC lowered its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 87.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 818 shares of the company's stock after selling 5,903 shares during the quarter. GTS Securities LLC's holdings in McKesson were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its position in shares of McKesson by 8.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after acquiring an additional 222,496 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. increased its position in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Finally, Northern Trust Corp increased its holdings in McKesson by 9.0% in the fourth quarter. Northern Trust Corp now owns 1,532,203 shares of the company's stock valued at $873,218,000 after buying an additional 126,940 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 1.0%

Shares of MCK traded up $6.99 during mid-day trading on Friday, hitting $719.85. 1,322,227 shares of the company's stock were exchanged, compared to its average volume of 916,780. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $731.00. The firm has a market capitalization of $90.06 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. The business's 50 day moving average is $695.18 and its two-hundred day moving average is $637.77.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter in the prior year, the firm earned $6.18 earnings per share. The business's quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

Analyst Ratings Changes

Several equities analysts recently commented on MCK shares. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a report on Thursday, April 3rd. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Finally, Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $686.69.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,856 shares of company stock worth $7,793,675. Company 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.