C WorldWide Group Holding A S Sells 702 Shares of McKesson Co. (NYSE:MCK)

C WorldWide Group Holding A S lessened its holdings in McKesson Co. (NYSE:MCK) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,332 shares of the company’s stock after selling 702 shares during the quarter. C WorldWide Group Holding A S’s holdings in McKesson were worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Legacy Financial Group LLC bought a new position in McKesson during the 3rd quarter worth approximately $27,000. OFI Invest Asset Management bought a new position in McKesson during the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC bought a new position in McKesson during the 4th quarter worth approximately $31,000. Avior Wealth Management LLC boosted its stake in McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research reports. UBS Group lifted their price target on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They issued an “outperform” rating and a $600.00 price target on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Finally, StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The shares were 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 in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK traded up $3.36 during trading on Friday, reaching $543.30. 654,669 shares of the stock were exchanged, compared to its average volume of 493,786. The stock has a market cap of $71.40 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.43 and a beta of 0.45. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $544.81. The stock’s 50 day moving average price is $528.15 and its two-hundred day moving average price is $489.48.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 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 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.90 earnings per share. Equities research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.