Massachusetts Financial Services Co. MA decreased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,603,533 shares of the company's stock after selling 116,147 shares during the period. McKesson makes up 1.0% of Massachusetts Financial Services Co. MA's portfolio, making the stock its 13th biggest position. Massachusetts Financial Services Co. MA owned 3.67% of McKesson worth $3,098,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. lifted its holdings in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after buying an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its holdings in McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. lifted its holdings in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the last quarter. GAMMA Investing LLC lifted its holdings in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Hedge funds and other institutional investors own 85.07% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on MCK. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Mizuho increased their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Evercore ISI increased their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $706.83.
Read Our Latest Analysis on McKesson
McKesson Price Performance
MCK opened at $708.49 on Monday. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a market cap of $88.64 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.42 and a beta of 0.48. The stock's 50 day moving average price is $715.67 and its 200 day moving average price is $663.30.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same period last year, the company posted $6.18 EPS. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.
McKesson Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is currently 10.99%.
Insider Activity
In other news, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the sale, the chief financial officer directly owned 14,760 shares of the company's stock, valued at $10,587,348. This trade represents a 30.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the sale, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.
About McKesson
(
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.
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