Mercer Global Advisors Inc. ADV Lowers Stake in McKesson Co. (NYSE:MCK)

Mercer Global Advisors Inc. ADV decreased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 56.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,951 shares of the company's stock after selling 37,101 shares during the period. Mercer Global Advisors Inc. ADV's holdings in McKesson were worth $16,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Norges Bank bought a new stake in McKesson during the 4th quarter worth approximately $1,200,361,000. Marshall Wace LLP lifted its stake in shares of McKesson by 59,720.3% in the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $178,397,000. Alliancebernstein L.P. boosted its position in McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after buying an additional 272,068 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of McKesson by 259.7% in the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock worth $192,845,000 after purchasing an additional 244,315 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. Insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of MCK traded down $1.73 on Monday, hitting $706.68. 993,079 shares of the stock traded hands, compared to its average volume of 890,494. The company has a market capitalization of $88.57 billion, a PE ratio of 32.36, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The business has a 50 day simple moving average of $672.89 and a 200 day simple moving average of $616.14.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's payout ratio is 13.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MCK shares. UBS Group lifted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Morgan Stanley raised their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $681.00.

McKesson 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.