Federated Hermes Inc. Sells 18,142 Shares of McKesson Co. (NYSE:MCK)

Federated Hermes Inc. reduced its holdings in McKesson Co. (NYSE:MCK) by 15.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 99,121 shares of the company’s stock after selling 18,142 shares during the period. Federated Hermes Inc.’s holdings in McKesson were worth $45,891,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its stake 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 worth $2,238,953,000 after acquiring an additional 708,438 shares during the period. Morgan Stanley lifted its position in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Norges Bank acquired a new stake in McKesson in the fourth quarter valued at about $633,960,000. Northern Trust Corp grew its position in McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after acquiring an additional 50,265 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of 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 purchasing an additional 133,351 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the 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 completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $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

Shares of MCK stock opened at $524.83 on Friday. The company has a market capitalization of $68.97 billion, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The business’s fifty day moving average is $524.91 and its 200 day moving average is $486.31. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $6.90 EPS. On average, sell-side analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 11.24%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. UBS Group upped their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Citigroup boosted their target price on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Mizuho upped their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, Morgan Stanley raised their target price on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.