Brown Brothers Harriman & Co. Sells 972 Shares of McKesson Co. (NYSE:MCK)

Brown Brothers Harriman & Co. decreased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 833 shares of the company's stock after selling 972 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in McKesson were worth $475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MCK. Geode Capital Management LLC lifted its position in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock valued at $1,306,873,000 after buying an additional 26,299 shares in the last quarter. Norges Bank purchased a new position in McKesson during the fourth quarter valued at approximately $1,200,361,000. Boston Partners boosted its position in shares of McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. Nordea Investment Management AB increased its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of McKesson by 9.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 593,941 shares of the company's stock valued at $293,656,000 after purchasing an additional 50,147 shares during the period. Institutional investors own 85.07% of the company's stock.

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Analyst Ratings Changes

A number of brokerages have issued reports on MCK. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Finally, Evercore ISI upped their target price 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. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $661.00.

McKesson Price Performance

Shares of NYSE:MCK traded up $23.18 during trading on Thursday, hitting $716.71. The company had a trading volume of 2,211,539 shares, compared to its average volume of 846,306. The stock has a market cap of $89.82 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a fifty day simple moving average of $629.16 and a two-hundred day simple moving average of $582.85. McKesson Co. has a one year low of $464.42 and a one year high of $733.50.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock worth $10,855,706 in the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Company 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.