Te Ahumairangi Investment Management Ltd Has $4.85 Million Stock Position in McKesson Co. (NYSE:MCK)

Te Ahumairangi Investment Management Ltd reduced its position in shares of McKesson Co. (NYSE:MCK) by 27.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,504 shares of the company’s stock after selling 3,225 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in McKesson were worth $4,847,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Meeder Advisory Services Inc. boosted its holdings in shares of McKesson by 1.4% in the 4th quarter. Meeder Advisory Services Inc. now owns 3,773 shares of the company’s stock worth $2,150,000 after acquiring an additional 52 shares in the last quarter. Boston Family Office LLC bought a new stake in shares of McKesson during the fourth quarter worth $202,000. Geode Capital Management LLC increased its stake in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after buying an additional 10,015 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after buying an additional 114,396 shares during the last quarter. Finally, Summit Financial LLC lifted its position in McKesson by 19.7% during the 4th quarter. Summit Financial LLC now owns 1,347 shares of the company’s stock worth $769,000 after buying an additional 222 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last 90 days. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MCK has been the subject of several research reports. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target for the company. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $649.36.

McKesson Price Performance

Shares of NYSE:MCK opened at $674.30 on Wednesday. The company has a market capitalization of $84.51 billion, a price-to-earnings ratio of 30.87, a P/E/G ratio of 1.29 and a beta of 0.52. The firm’s 50 day simple moving average is $626.97 and its 200 day simple moving average is $582.06. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $678.67.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.