Nisa Investment Advisors LLC Decreases Stock Holdings in McKesson Corporation (NYSE:MCK)

Nisa Investment Advisors LLC trimmed its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 45.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,425 shares of the company's stock after selling 43,923 shares during the period. Nisa Investment Advisors LLC's holdings in McKesson were worth $35,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MCK. T. Rowe Price Investment Management Inc. raised 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 valued at $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC raised 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 valued at $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. raised 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 valued at $1,493,704,000 after buying an additional 114,396 shares during the period. GAMMA Investing LLC raised 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 valued at $1,610,567,000 after buying an additional 2,389,992 shares during the period. Finally, Norges Bank purchased a new stake in McKesson during the 4th quarter valued at $1,200,361,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the completion of the sale, the chief executive officer directly owned 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares of the company's stock, valued at approximately $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock valued at $23,526,451 over the last 90 days. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent research reports. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley upped their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Evercore ISI upped their price objective on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a research report on Wednesday. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $706.83.

McKesson Stock Performance

MCK stock traded down $4.91 during trading on Wednesday, reaching $719.20. 33,151 shares of the company traded hands, compared to its average volume of 924,095. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The business has a 50 day simple moving average of $715.21 and a 200 day simple moving average of $659.83. The company has a market capitalization of $89.98 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the company earned $6.18 earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is currently 10.99%.

About McKesson

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.