Massachusetts Financial Services Co. MA Sells 60,297 Shares of McKesson Corporation $MCK

Massachusetts Financial Services Co. MA reduced its position in McKesson Corporation (NYSE:MCK) by 1.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,924,282 shares of the company’s stock after selling 60,297 shares during the period. McKesson accounts for about 0.9% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 15th largest position. Massachusetts Financial Services Co. MA’s holdings in McKesson were worth $3,031,665,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MCK. Fiduciary Family Office LLC lifted its position in McKesson by 0.8% during the third quarter. Fiduciary Family Office LLC now owns 2,295 shares of the company’s stock valued at $1,773,000 after acquiring an additional 19 shares during the last quarter. Resonant Capital Advisors LLC increased its position in shares of McKesson by 1.3% during the third quarter. Resonant Capital Advisors LLC now owns 9,038 shares of the company’s stock worth $6,989,000 after purchasing an additional 114 shares in the last quarter. Maryland State Retirement & Pension System lifted its holdings in shares of McKesson by 3.0% during the 3rd quarter. Maryland State Retirement & Pension System now owns 6,282 shares of the company’s stock valued at $4,853,000 after purchasing an additional 182 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of McKesson by 0.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 9,017 shares of the company’s stock worth $6,966,000 after purchasing an additional 29 shares in the last quarter. Finally, McBroom & Associates LLC grew its stake in McKesson by 7.6% during the 3rd quarter. McBroom & Associates LLC now owns 2,066 shares of the company’s stock worth $1,596,000 after buying an additional 146 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by company insiders.

McKesson Trading Down 0.5%

MCK opened at $840.29 on Friday. The firm has a 50 day moving average of $833.47 and a two-hundred day moving average of $766.45. The firm has a market capitalization of $103.71 billion, a PE ratio of 26.15, a P/E/G ratio of 1.38 and a beta of 0.41. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter last year, the company posted $7.07 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Jefferies Financial Group increased their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Mizuho upped their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Citigroup raised their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Wells Fargo & Company boosted their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.