Supplemental Annuity Collective Trust of NJ Sells 1,000 Shares of McKesson Co. (NYSE:MCK)

Supplemental Annuity Collective Trust of NJ lessened its holdings in McKesson Co. (NYSE:MCK) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the company’s stock after selling 1,000 shares during the quarter. Supplemental Annuity Collective Trust of NJ’s holdings in McKesson were worth $926,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of McKesson in the third quarter worth $26,000. Legacy Financial Group LLC purchased a new stake in McKesson in the third quarter valued at approximately $27,000. BKM Wealth Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $31,000. Avior Wealth Management LLC lifted its holdings in McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after buying an additional 28 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on MCK. Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, UBS Group 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 Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Performance

Shares of NYSE MCK traded up $3.43 during trading on Friday, hitting $543.37. The company had a trading volume of 654,667 shares, compared to its average volume of 686,507. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The firm has a market capitalization of $71.40 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The stock has a 50 day simple moving average of $527.50 and a 200 day simple moving average of $488.84.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the previous year, the company earned $6.90 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly 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 currently owned by insiders.

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.