McKesson Co. (NYSE:MCK) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC reduced its stake in McKesson Co. (NYSE:MCK) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,150 shares of the company’s stock after selling 50 shares during the period. Palisade Asset Management LLC’s holdings in McKesson were worth $1,458,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MCK. Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley grew its holdings in shares of McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Northern Trust Corp grew its holdings in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after buying an additional 50,265 shares during the last quarter. Boston Partners grew its holdings in shares of McKesson by 12.5% during the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after buying an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after buying an additional 4,636 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In related 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 sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s 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 transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was 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 of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of MCK stock traded down $2.14 on Wednesday, reaching $543.61. 1,367,075 shares of the stock were exchanged, compared to its average volume of 710,309. The stock has a market cap of $71.44 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The firm has a 50 day moving average of $531.17 and a two-hundred day moving average of $493.81. McKesson Co. has a 1-year low of $373.28 and a 1-year high of $566.01.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the prior year, the company posted $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Robert W. Baird raised their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research report on Wednesday. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. Barclays lifted their price target on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $569.86.

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.