Sumitomo Mitsui Trust Holdings Inc. Sells 5,057 Shares of McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in McKesson Co. (NYSE:MCK) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 353,220 shares of the company’s stock after selling 5,057 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of McKesson worth $163,534,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Legacy Financial Group LLC bought a new position in McKesson during the third quarter worth $27,000. OFI Invest Asset Management bought a new stake in shares of McKesson during the third quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $31,000. Live Oak Investment Partners bought a new position in shares of McKesson during the fourth quarter worth approximately $30,000. Finally, Covestor Ltd increased its stake in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK opened at $522.68 on Tuesday. The firm’s fifty day moving average price is $523.34 and its two-hundred day moving average price is $484.53. The stock has a market cap of $68.69 billion, a PE ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the previous year, the company posted $6.90 EPS. McKesson’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. SVB Leerink started coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective on the stock. Barclays started coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Citigroup upped their price objective on shares of McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $533.50.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction 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 is accessible through the SEC website. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred 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 owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.