McKesson Co. (NYSE:MCK) Shares Sold by MML Investors Services LLC

MML Investors Services LLC cut its holdings in McKesson Co. (NYSE:MCK) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,563 shares of the company’s stock after selling 2,101 shares during the period. MML Investors Services LLC’s holdings in McKesson were worth $10,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bailard Inc. raised its holdings in McKesson by 4.1% in the 1st quarter. Bailard Inc. now owns 1,563 shares of the company’s stock valued at $557,000 after buying an additional 61 shares during the period. GW&K Investment Management LLC acquired a new position in shares of McKesson in the 1st quarter worth approximately $71,000. CWA Asset Management Group LLC boosted its position in shares of McKesson by 13.8% during the 1st quarter. CWA Asset Management Group LLC now owns 633 shares of the company’s stock worth $225,000 after purchasing an additional 77 shares during the period. Strategy Asset Managers LLC increased its holdings in McKesson by 1.9% in the 1st quarter. Strategy Asset Managers LLC now owns 2,492 shares of the company’s stock valued at $887,000 after purchasing an additional 46 shares during the last quarter. Finally, Advisors Capital Management LLC raised its position in McKesson by 34.0% in the fourth quarter. Advisors Capital Management LLC now owns 3,458 shares of the company’s stock valued at $1,297,000 after purchasing an additional 877 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,471 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $400.00, for a total value of $1,388,400.00. Following the completion of the sale, the chief executive officer now owns 129,714 shares in the company, valued at $51,885,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,938 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $422.60, for a total value of $1,664,198.80. Following the completion of the sale, the chief executive officer now owns 121,838 shares in the company, valued at $51,488,738.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,471 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $400.00, for a total transaction of $1,388,400.00. Following the completion of the transaction, the chief executive officer now directly owns 129,714 shares of the company’s stock, valued at $51,885,600. The disclosure for this sale can be found here. Insiders have sold a total of 22,227 shares of company stock worth $9,290,486 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. StockNews.com initiated coverage on McKesson in a research report on Thursday, August 17th. They set a “strong-buy” rating for the company. Mizuho lifted their target price on McKesson from $390.00 to $427.00 in a research report on Tuesday, July 11th. TD Cowen raised their price objective on shares of McKesson from $491.00 to $495.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. Morgan Stanley upped their target price on shares of McKesson from $426.00 to $459.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Finally, SpectralCast reiterated a “maintains” rating on shares of McKesson in a research note on Thursday, June 29th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $452.33.

McKesson Stock Performance

NYSE MCK opened at $418.62 on Friday. McKesson Co. has a one year low of $331.75 and a one year high of $441.00. The firm has a market cap of $56.47 billion, a PE ratio of 15.61, a P/E/G ratio of 1.42 and a beta of 0.60. The firm’s fifty day moving average is $417.94 and its two-hundred day moving average is $388.17.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $7.27 EPS for the quarter, beating the consensus estimate of $5.85 by $1.42. McKesson had a negative return on equity of 252.54% and a net margin of 1.32%. The firm had revenue of $74.48 billion during the quarter, compared to the consensus estimate of $70.28 billion. During the same period in the prior year, the business earned $5.83 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. Research analysts predict that McKesson Co. will post 27.17 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.62 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.59%. McKesson’s payout ratio is presently 9.25%.

McKesson Company 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.