Meritage Portfolio Management Lowers Holdings in McKesson Co. (NYSE:MCK)

Meritage Portfolio Management trimmed its position in shares of McKesson Co. (NYSE:MCK) by 5.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 693 shares of the company’s stock after selling 41 shares during the quarter. Meritage Portfolio Management’s holdings in McKesson were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Massachusetts Financial Services Co. MA boosted its holdings in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after acquiring an additional 708,438 shares during the last quarter. Morgan Stanley boosted its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Northern Trust Corp grew its position in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after purchasing an additional 50,265 shares during the period. Boston Partners raised its stake in McKesson by 12.5% during the 3rd quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after buying an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of McKesson by 0.4% in the 4th 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.

McKesson Stock Up 0.6 %

Shares of MCK stock opened at $543.37 on Friday. The stock has a market cap of $71.40 billion, a P/E ratio of 24.62, a PEG ratio of 1.43 and a beta of 0.45. The company’s fifty day simple moving average is $528.15 and its two-hundred day simple moving average is $489.48. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $544.81.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating 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 company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the company earned $6.90 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. On average, analysts anticipate that McKesson Co. will post 27.59 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 issued a $0.62 dividend. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson 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 completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the firm’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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays started coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price for the company. Mizuho increased their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Finally, UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.