McKesson Co. (NYSE:MCK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,121 shares of the company's stock after selling 18,142 shares during the period. Federated Hermes Inc. owned 0.07% of McKesson worth $45,891,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in McKesson by 6.1% in the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company's stock worth $70,919,000 after buying an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company's stock worth $39,714,000 after acquiring an additional 5,425 shares in the last quarter. Insight Wealth Strategies LLC bought a new position in McKesson during the 4th quarter worth about $1,813,000. Aspire Private Capital LLC grew its holdings in McKesson by 3.2% during the 3rd quarter. Aspire Private Capital LLC now owns 1,957 shares of the company's stock worth $851,000 after acquiring an additional 60 shares in the last quarter. Finally, Argus Investors Counsel Inc. bought a new position in McKesson during the 4th quarter worth about $891,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Performance

MCK stock traded up $6.02 during trading on Friday, reaching $524.83. The company had a trading volume of 645,525 shares, compared to its average volume of 454,051. The firm has a 50-day simple moving average of $524.91 and a 200-day simple moving average of $486.65. The company has a market cap of $68.97 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts' consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts' expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson's revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the business earned $6.90 EPS. Sell-side analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson's dividend payout ratio (DPR) is currently 11.24%.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company's stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company's stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCK. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 4th. Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. UBS Group increased their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Barclays began coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $537.00 price target on the stock. Finally, Argus raised their price target on shares of McKesson from $510.00 to $570.00 and gave the company a "buy" rating in a report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $533.50.

McKesson Company 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.