Federated Hermes Inc. Cuts Position in McKesson Co. (NYSE:MCK)

Federated Hermes Inc. trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 57.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,744 shares of the company's stock after selling 51,510 shares during the quarter. Federated Hermes Inc.'s holdings in McKesson were worth $22,081,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Norges Bank purchased a new stake in McKesson in the 4th quarter worth approximately $1,200,361,000. Proficio Capital Partners LLC purchased a new stake in McKesson during the fourth quarter worth $178,397,000. Alliancebernstein L.P. grew its position in McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock valued at $487,462,000 after buying an additional 272,068 shares during the period. Raymond James Financial Inc. purchased a new position in McKesson in the fourth quarter valued at $128,125,000. Finally, Boston Partners raised 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 acquiring an additional 216,432 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of McKesson 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 completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Finally, Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

McKesson Trading Up 0.4 %

MCK stock traded up $2.95 during mid-day trading on Monday, reaching $692.31. The company's stock had a trading volume of 207,311 shares, compared to its average volume of 878,508. The stock has a market cap of $86.76 billion, a PE ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49. The company's 50 day moving average is $642.70 and its two-hundred day moving average is $593.86. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

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.