McKesson Co. (NYSE:MCK) Shares Sold by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. trimmed its holdings in McKesson Co. (NYSE:MCK) by 66.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,824 shares of the company’s stock after selling 5,511 shares during the period. Great Lakes Retirement Inc.’s holdings in McKesson were worth $1,611,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC boosted its stake in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after acquiring an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. The Manufacturers Life Insurance Company grew its holdings in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK opened at $610.57 on Wednesday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a 50 day simple moving average of $588.04 and a 200-day simple moving average of $562.60. The firm has a market cap of $77.51 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts predict that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Morgan Stanley raised their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Buy” and an average price target of $645.79.

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.