American International Group Inc. Reduces Stock Position in McKesson Co. (NYSE:MCK)

American International Group Inc. lowered its stake in shares of McKesson Co. (NYSE:MCK) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,798 shares of the company’s stock after selling 1,207 shares during the quarter. American International Group Inc.’s holdings in McKesson were worth $15,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Syon Capital LLC lifted its position in shares of McKesson by 40.7% during the fourth quarter. Syon Capital LLC now owns 2,538 shares of the company’s stock worth $1,175,000 after purchasing an additional 734 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of McKesson in the 4th quarter worth approximately $240,000. Napa Wealth Management bought a new stake in McKesson during the fourth quarter valued at $2,586,000. Raleigh Capital Management Inc. raised its holdings in shares of McKesson by 3.3% during the fourth quarter. Raleigh Capital Management Inc. now owns 887 shares of the company’s stock worth $411,000 after purchasing an additional 28 shares during the period. Finally, Sunpointe LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $501,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCK shares. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 5th. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley raised their target price on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Argus upped their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Citigroup raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other McKesson news, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,814 shares of company stock valued at $14,511,649. 0.21% of the stock is owned by insiders.

McKesson Stock Down 0.2 %

Shares of MCK traded down $1.12 during mid-day trading on Friday, hitting $589.95. 728,169 shares of the company’s stock were exchanged, compared to its average volume of 654,649. McKesson Co. has a twelve month low of $392.48 and a twelve month high of $592.41. The firm has a fifty day moving average of $551.04 and a two-hundred day moving average of $515.30. The stock has a market cap of $76.69 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 1.38 and a beta of 0.47.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS 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 0.97% and a negative return on equity of 245.88%. The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.19 EPS. On average, equities analysts predict that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

About McKesson

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.