Deseret Mutual Benefit Administrators Cuts Stock Position in McKesson Co. (NYSE:MCK)

Deseret Mutual Benefit Administrators trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 546 shares of the company’s stock after selling 97 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in McKesson were worth $311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Eastern Bank purchased a new stake in shares of McKesson during the third quarter worth about $258,000. Commerzbank Aktiengesellschaft FI increased its stake in McKesson by 50.0% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 627 shares of the company’s stock worth $311,000 after buying an additional 209 shares in the last quarter. Courier Capital LLC raised its holdings in shares of McKesson by 10.3% during the third quarter. Courier Capital LLC now owns 1,075 shares of the company’s stock valued at $532,000 after acquiring an additional 100 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in shares of McKesson by 9.1% in the third quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock worth $761,000 after acquiring an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock worth $6,177,790 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.0 %

NYSE:MCK opened at $597.68 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock’s fifty day moving average is $589.02 and its two-hundred day moving average is $562.38. The company has a market capitalization of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate 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.