McKesson Co. (NYSE:MCK) Stock Position Decreased by Palisade Asset Management LLC

Palisade Asset Management LLC cut its stake in shares of McKesson Co. (NYSE:MCK) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,150 shares of the company’s stock after selling 50 shares during the quarter. Palisade Asset Management LLC’s holdings in McKesson were worth $1,458,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCK. OFI Invest Asset Management acquired a new stake in McKesson during the third quarter valued at $26,000. BKM Wealth Management LLC acquired a new stake in McKesson during the fourth quarter valued at $31,000. WASHINGTON TRUST Co boosted its position in 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 purchasing an additional 34 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in McKesson during the third quarter valued at $61,000. Finally, Orion Capital Management LLC bought a new position in McKesson during the third quarter valued at about $63,000. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Argus raised their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Mizuho lifted their price objective on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley lifted their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, UBS Group lifted their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $569.86.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the business’s 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 directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business’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 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 approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Stock Performance

NYSE MCK traded down $2.14 during trading on Wednesday, reaching $543.61. 1,367,075 shares of the company traded hands, compared to its average volume of 710,309. The stock’s 50 day moving average price is $531.17 and its two-hundred day moving average price is $493.81. The company has a market cap of $71.44 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.01.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.19 earnings per share. Equities research analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

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 $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

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.