Supplemental Annuity Collective Trust of NJ Decreases Stock Position in McKesson Co. (NYSE:MCK)

Supplemental Annuity Collective Trust of NJ decreased its stake in shares of McKesson Co. (NYSE:MCK) by 33.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,000 shares of the company’s stock after selling 1,000 shares during the period. Supplemental Annuity Collective Trust of NJ’s holdings in McKesson were worth $926,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Legacy Financial Group LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $27,000. OFI Invest Asset Management purchased a new stake in McKesson during the 3rd quarter valued at $26,000. BKM Wealth Management LLC purchased a new position in McKesson during the fourth quarter valued at $31,000. Avior Wealth Management LLC boosted its holdings in McKesson by 50.0% in 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 during the period. Finally, WASHINGTON TRUST Co raised its position in shares of McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MCK shares. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Stock Up 0.6 %

Shares of McKesson stock traded up $3.43 on Friday, hitting $543.37. 654,667 shares of the company traded hands, compared to its average volume of 686,507. The company has a market cap of $71.40 billion, a PE ratio of 24.46, a PEG ratio of 1.42 and a beta of 0.45. The company has a 50-day moving average price of $527.50 and a 200 day moving average price of $488.84. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the business earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is presently 11.24%.

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.