Ontario Teachers Pension Plan Board Sells 2,393 Shares of McKesson Co. (NYSE:MCK)

Ontario Teachers Pension Plan Board cut its position in shares of McKesson Co. (NYSE:MCK) by 66.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,211 shares of the company’s stock after selling 2,393 shares during the period. Ontario Teachers Pension Plan Board’s holdings in McKesson were worth $561,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC bought a new position in McKesson during the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new position in McKesson during the fourth quarter valued at approximately $31,000. WASHINGTON TRUST Co boosted its stake in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the last quarter. Private Wealth Management Group LLC bought a new position in McKesson during the fourth quarter valued at approximately $60,000. Finally, Milestone Investment Advisors LLC bought a new position in McKesson during the third quarter valued at approximately $61,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Up 0.5 %

NYSE:MCK opened at $560.73 on Friday. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.16. The company has a market cap of $72.89 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 1.31 and a beta of 0.45. The stock has a fifty day simple moving average of $538.64 and a 200-day simple moving average of $502.88.

McKesson (NYSE:MCK) last released its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter last year, the business posted $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 31.57 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.44%. McKesson’s dividend payout ratio (DPR) is 11.08%.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective on the stock. Robert W. Baird upped their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $571.47.

Insider Transactions at McKesson

In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were 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 owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,080 shares of company stock worth $2,160,489. 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.