McKesson Co. (NYSE:MCK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in McKesson Co. (NYSE:MCK) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,121 shares of the company’s stock after selling 18,142 shares during the period. Federated Hermes Inc. owned approximately 0.07% of McKesson worth $45,891,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its position in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after purchasing an additional 34 shares during the period. OFI Invest Asset Management purchased a new stake in shares of McKesson during the 3rd quarter valued at about $26,000. Legacy Financial Group LLC acquired a new position in McKesson during the 3rd quarter worth approximately $27,000. Live Oak Investment Partners purchased a new position in McKesson in the 4th quarter worth approximately $30,000. Finally, BKM Wealth Management LLC acquired a new stake in McKesson in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 1.2 %

Shares of MCK stock opened at $524.83 on Friday. The company has a market cap of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.41 and a beta of 0.45. The business has a 50 day moving average of $524.91 and a two-hundred day moving average of $486.31. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $6.90 EPS. Analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MCK shares. Morgan Stanley boosted their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Citigroup boosted 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. SVB Leerink initiated coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Finally, Argus increased their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s 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 transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the firm’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 transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.