McKesson Co. (NYSE:MCK) Stake Decreased by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC cut its holdings in McKesson Co. (NYSE:MCK) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,170 shares of the company’s stock after selling 13,775 shares during the quarter. McKesson accounts for 2.5% of Anchor Capital Advisors LLC’s portfolio, making the stock its 2nd biggest holding. Anchor Capital Advisors LLC owned 0.15% of McKesson worth $94,989,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley lifted its position in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after acquiring an additional 272,266 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after acquiring an additional 221,125 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the subject of several analyst reports. UBS Group upped their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup upped their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Mizuho upped their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. SVB Leerink initiated coverage on McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Price Performance

MCK traded down $7.21 on Monday, reaching $536.09. The company’s stock had a trading volume of 1,034,640 shares, compared to its average volume of 690,752. The stock has a market cap of $70.45 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81. The business’s 50 day moving average is $528.15 and its 200 day moving average is $489.95.

McKesson (NYSE:MCK) 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. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter last year, the business posted $6.90 EPS. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson 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 transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm’s 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 directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.