Everence Capital Management Inc. Lowers Stake in McKesson Co. (NYSE:MCK)

Everence Capital Management Inc. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 29.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,744 shares of the company's stock after selling 2,390 shares during the period. Everence Capital Management Inc.'s holdings in McKesson were worth $3,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. TIAA Trust National Association lifted its holdings in shares of McKesson by 0.4% in the second quarter. TIAA Trust National Association now owns 7,746 shares of the company's stock worth $4,524,000 after buying an additional 33 shares in the last quarter. Archer Investment Corp boosted its holdings in McKesson by 58.2% in the 2nd quarter. Archer Investment Corp now owns 261 shares of the company's stock valued at $152,000 after purchasing an additional 96 shares during the period. Simon Quick Advisors LLC grew its position in shares of McKesson by 32.0% during the 2nd quarter. Simon Quick Advisors LLC now owns 561 shares of the company's stock valued at $328,000 after purchasing an additional 136 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares during the period. Finally, Birchcreek Wealth Management LLC raised its position in shares of McKesson by 6.5% in the second quarter. Birchcreek Wealth Management LLC now owns 441 shares of the company's stock worth $258,000 after buying an additional 27 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MCK. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Finally, Leerink Partners lowered their price objective on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $650.14.

Insider Transactions at McKesson

In other 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 completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 2.0 %

Shares of NYSE MCK traded up $11.23 during midday trading on Friday, reaching $577.44. The company had a trading volume of 708,117 shares, compared to its average volume of 540,608. The stock has a market cap of $73.30 billion, a PE ratio of 29.90, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm's fifty day moving average price is $583.30 and its 200-day moving average price is $562.25.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The business's revenue was up 21.3% on a year-over-year basis. As a group, equities research analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson's dividend payout ratio (DPR) is 14.71%.

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.