Everence Capital Management Inc. Has $3.77 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Everence Capital Management Inc. lessened its position in shares of McKesson Co. (NYSE:MCK) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,134 shares of the company’s stock after selling 830 shares during the quarter. Everence Capital Management Inc.’s holdings in McKesson were worth $3,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Norges Bank bought a new stake in McKesson in the fourth quarter valued at about $633,960,000. International Assets Investment Management LLC grew its holdings in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after buying an additional 749,504 shares in the last quarter. 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 buying an additional 708,438 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of McKesson by 94,078.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after buying an additional 595,518 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in McKesson by 53.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after purchasing an additional 320,588 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was 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 approximately $749,456. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction 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 in the company, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Stock Performance

NYSE:MCK traded up $5.67 during mid-day trading on Tuesday, hitting $528.35. 362,603 shares of the stock were exchanged, compared to its average volume of 690,535. The stock has a market capitalization of $69.43 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The firm’s 50-day simple moving average is $523.34 and its 200 day simple moving average is $484.53. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $6.90 EPS. On average, analysts predict 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. Investors of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is currently 11.24%.

Analyst Ratings Changes

Several brokerages recently commented on MCK. Argus increased their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Barclays began coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday. Finally, SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.50.

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.