McKesson Co. (NYSE:MCK) Stake Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its position in McKesson Co. (NYSE:MCK - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,118 shares of the company's stock after selling 2,858 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of McKesson worth $38,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MCK. Wolff Wiese Magana LLC increased its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter valued at $31,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter valued at $32,000. Finally, Crews Bank & Trust acquired a new stake in McKesson in the 4th quarter valued at $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK traded up $2.99 during mid-day trading on Wednesday, reaching $602.41. The stock had a trading volume of 738,211 shares, compared to its average volume of 752,071. The company has a market capitalization of $75.50 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The stock's 50 day simple moving average is $587.59 and its two-hundred day simple moving average is $561.91.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. 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 dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction dated 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 owns 864 shares of the company's stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,307 shares of company stock valued at $6,177,790 over the last quarter. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and a consensus target price of $645.79.

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.