Natixis Advisors L.P. Trims Stock Position in McKesson Co. (NYSE:MCK)

Natixis Advisors L.P. lessened its stake in shares of McKesson Co. (NYSE:MCK) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,990 shares of the company’s stock after selling 2,420 shares during the quarter. Natixis Advisors L.P. owned about 0.15% of McKesson worth $89,813,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Addison Advisors LLC lifted its position in shares of McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the last quarter. Keystone Financial Services raised its position in McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock valued at $552,000 after purchasing an additional 24 shares during the last quarter. Austin Private Wealth LLC raised its position in McKesson by 2.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after purchasing an additional 27 shares during the last quarter. Quent Capital LLC raised its position in McKesson by 2.2% in the 4th quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after purchasing an additional 27 shares during the last quarter. Finally, Kanawha Capital Management LLC raised its position in McKesson by 4.7% in the 4th quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock valued at $281,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The sale was disclosed in a filing 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 completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Trading Down 0.3 %

NYSE:MCK traded down $1.42 during trading hours on Friday, hitting $528.85. The stock had a trading volume of 866,904 shares, compared to its average volume of 703,165. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $544.81. The business has a 50 day simple moving average of $530.13 and a two-hundred day simple moving average of $491.57. The company has a market cap of $69.50 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $77.93 billion. During the same quarter last year, the company earned $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

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 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.24%.

Analysts Set New Price Targets

Several analysts recently commented on MCK shares. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Argus upped their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Finally, Citigroup upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $536.71.

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.