Pacer Advisors Inc. Reduces Holdings in McKesson Co. (NYSE:MCK)

Pacer Advisors Inc. lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 97.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,696 shares of the company's stock after selling 749,466 shares during the period. Pacer Advisors Inc.'s holdings in McKesson were worth $7,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Koshinski Asset Management Inc. boosted its stake in shares of McKesson by 1.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company's stock valued at $1,023,000 after purchasing an additional 25 shares in the last quarter. First Foundation Advisors lifted its position in McKesson by 2.7% during the 2nd quarter. First Foundation Advisors now owns 1,035 shares of the company's stock worth $442,000 after buying an additional 27 shares in the last quarter. JT Stratford LLC lifted its position in McKesson by 1.9% during the 2nd quarter. JT Stratford LLC now owns 1,483 shares of the company's stock worth $634,000 after buying an additional 28 shares in the last quarter. Avior Wealth Management LLC lifted its position in McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company's stock worth $37,000 after buying an additional 28 shares in the last quarter. Finally, PDS Planning Inc lifted its position in McKesson by 3.5% during the 3rd quarter. PDS Planning Inc now owns 865 shares of the company's stock worth $376,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. Citigroup upped their price target on shares of McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. TD Cowen upped their price target on shares of McKesson from $508.00 to $563.00 and gave the stock an "outperform" rating in a research report on Monday, December 11th. UBS Group upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Finally, StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $522.21.

McKesson Stock Down 0.4 %

Shares of NYSE MCK traded down $2.41 during trading hours on Thursday, hitting $536.85. The company had a trading volume of 706,472 shares, compared to its average volume of 738,280. The stock has a market capitalization of $70.55 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 1.64 and a beta of 0.44. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $540.00. The firm's 50 day moving average is $512.99 and its 200-day moving average is $475.15.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts' consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to analysts' expectations of $77.93 billion. During the same quarter in the prior year, the business earned $6.90 EPS. The firm's revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, February 29th. McKesson's dividend payout ratio (DPR) is presently 11.24%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,685 shares of company stock worth $8,646,498. Company insiders own 0.21% of the company's stock.

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.