McKesson Co. (NYSE:MCK) Shares Sold by KBC Group NV

KBC Group NV lowered its stake in shares of McKesson Co. (NYSE:MCK) by 40.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,992 shares of the company’s stock after selling 90,481 shares during the quarter. KBC Group NV owned approximately 0.11% of McKesson worth $77,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the third quarter valued at $29,000. Wolff Wiese Magana LLC lifted its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter worth about $40,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE MCK opened at $591.47 on Monday. The stock has a market capitalization of $75.08 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 0.52. The business’s fifty day moving average is $592.65 and its two-hundred day moving average is $561.31. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $6.23 earnings per share. On average, research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Leerink Partners dropped their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

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.