McKesson Corporation $MCK Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,914 shares of the company's stock after selling 15,848 shares during the period. Principal Financial Group Inc. owned about 0.21% of McKesson worth $215,666,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCK. Fairfield Financial Advisors LTD lifted its position in shares of McKesson by 10.2% during the fourth quarter. Fairfield Financial Advisors LTD now owns 4,938 shares of the company's stock worth $4,050,000 after purchasing an additional 456 shares in the last quarter. Fulcrum Wealth Advisors LLC acquired a new position in shares of McKesson during the fourth quarter worth $2,686,000. QRG Capital Management Inc. lifted its position in shares of McKesson by 8.1% during the fourth quarter. QRG Capital Management Inc. now owns 7,305 shares of the company's stock worth $5,993,000 after purchasing an additional 550 shares in the last quarter. Triasima Portfolio Management inc. lifted its position in shares of McKesson by 21.8% during the fourth quarter. Triasima Portfolio Management inc. now owns 5,396 shares of the company's stock worth $4,426,000 after purchasing an additional 967 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in shares of McKesson by 1.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 1,537 shares of the company's stock worth $1,261,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the transaction, the executive vice president owned 2,989 shares of the company's stock, valued at $2,824,605. The trade was a 5.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,592 shares of company stock valued at $3,518,555 in the last quarter. Company insiders own 0.08% of the company's stock.

McKesson Trading Down 0.8%

McKesson stock opened at $800.99 on Wednesday. The stock has a market cap of $98.11 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.17 and a beta of 0.35. The company's 50-day moving average price is $891.94 and its two-hundred day moving average price is $860.41. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, beating the consensus estimate of $9.19 by $0.15. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The firm had revenue of $106.16 billion for the quarter, compared to analysts' expectations of $105.98 billion. During the same quarter last year, the company earned $8.03 EPS. McKesson's quarterly revenue was up 11.4% on a year-over-year basis. Research analysts expect that McKesson Corporation will post 39.02 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is 9.43%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Wall Street Zen upgraded McKesson from a "hold" rating to a "buy" rating in a research report on Saturday. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Leerink Partners reiterated an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Weiss Ratings cut shares of McKesson from a "buy (a-)" rating to a "buy (b+)" rating in a report on Thursday, February 5th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $972.27.

McKesson Company Profile

McKesson Corporation NYSE: MCK is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company's core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.

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