McKesson Co. (NYSE:MCK) Shares Sold by Brandes Investment Partners LP

Brandes Investment Partners LP reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,924 shares of the company's stock after selling 19,385 shares during the quarter. McKesson comprises approximately 2.3% of Brandes Investment Partners LP's portfolio, making the stock its 7th largest holding. Brandes Investment Partners LP owned about 0.28% of McKesson worth $203,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Old North State Trust LLC increased its stake in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after purchasing an additional 18 shares during the period. Trust Co. of Vermont increased its stake in McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management increased its stake in McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after purchasing an additional 18 shares during the period. Black Diamond Financial LLC boosted its holdings in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock valued at $754,000 after acquiring an additional 19 shares in the last quarter. Finally, Calamos Wealth Management LLC boosted its holdings in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after acquiring an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last 90 days. Insiders own 0.11% of the company's stock.

McKesson Price Performance

Shares of NYSE MCK traded up $2.48 on Wednesday, hitting $664.09. The company's stock had a trading volume of 961,980 shares, compared to its average volume of 791,554. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.68. The company has a market capitalization of $83.23 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a 50 day moving average of $611.56 and a 200-day moving average of $572.36.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

Several analysts have recently weighed in on MCK shares. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $649.36.

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.