OMERS ADMINISTRATION Corp Trims Stock Holdings in McKesson Co. (NYSE:MCK)

OMERS ADMINISTRATION Corp reduced its position in McKesson Co. (NYSE:MCK - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,434 shares of the company's stock after selling 382 shares during the period. OMERS ADMINISTRATION Corp's holdings in McKesson were worth $4,237,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Czech National Bank raised its position in McKesson by 4.2% during the fourth quarter. Czech National Bank now owns 27,524 shares of the company's stock valued at $15,686,000 after purchasing an additional 1,108 shares during the period. Brookstone Capital Management raised its position in McKesson by 42.8% during the fourth quarter. Brookstone Capital Management now owns 10,473 shares of the company's stock valued at $5,969,000 after purchasing an additional 3,137 shares during the period. Capital Investment Advisors LLC raised its position in McKesson by 29.0% during the fourth quarter. Capital Investment Advisors LLC now owns 2,379 shares of the company's stock valued at $1,356,000 after purchasing an additional 535 shares during the period. Wedmont Private Capital raised its position in McKesson by 9.8% during the fourth quarter. Wedmont Private Capital now owns 2,003 shares of the company's stock valued at $1,165,000 after purchasing an additional 179 shares during the period. Finally, Bar Harbor Wealth Management purchased a new stake in McKesson during the fourth quarter valued at approximately $221,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.11% of the company's stock.

McKesson Price Performance

NYSE MCK traded up $16.29 during midday trading on Friday, hitting $723.05. 1,087,990 shares of the company traded hands, compared to its average volume of 915,647. The company has a market cap of $90.62 billion, a PE ratio of 33.11, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company's 50-day simple moving average is $683.14 and its 200-day simple moving average is $626.73. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the firm earned $6.18 EPS. On average, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCK. Morgan Stanley upped 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. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

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.