Anchor Capital Advisors LLC Has $94.99 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Anchor Capital Advisors LLC reduced its position in McKesson Co. (NYSE:MCK) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,170 shares of the company’s stock after selling 13,775 shares during the quarter. McKesson makes up about 2.5% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Anchor Capital Advisors LLC’s holdings in McKesson were worth $94,989,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Intrust Bank NA purchased a new position in shares of McKesson in the fourth quarter worth $206,000. Naviter Wealth LLC purchased a new stake in McKesson during the fourth quarter valued at $276,000. Chase Investment Counsel Corp raised its stake in McKesson by 9.3% during the fourth quarter. Chase Investment Counsel Corp now owns 5,964 shares of the company’s stock valued at $2,761,000 after purchasing an additional 509 shares in the last quarter. Choreo LLC raised its stake in McKesson by 152.3% during the fourth quarter. Choreo LLC now owns 3,507 shares of the company’s stock valued at $1,626,000 after purchasing an additional 2,117 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in McKesson by 4.8% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 652 shares of the company’s stock valued at $302,000 after purchasing an additional 30 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on 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 $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Stock Performance

McKesson stock traded down $7.21 during midday trading on Monday, hitting $536.09. 1,034,640 shares of the company’s stock were exchanged, compared to its average volume of 690,752. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81. The firm has a 50-day moving average of $528.15 and a two-hundred day moving average of $489.95. The company has a market cap of $70.45 billion, a PE ratio of 24.33, a P/E/G ratio of 1.44 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its 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. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. During the same period in the prior year, the business earned $6.90 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts expect that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared 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. 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 dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Mizuho increased their target price on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. UBS Group increased their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Citigroup increased their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $533.50.

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.