FIL Ltd Sells 198,687 Shares of McKesson Co. (NYSE:MCK)

FIL Ltd cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 51.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 184,516 shares of the company's stock after selling 198,687 shares during the period. FIL Ltd owned about 0.15% of McKesson worth $105,158,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MCK. Geode Capital Management LLC raised its position in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the period. Franklin Resources Inc. increased its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after buying an additional 114,396 shares during the period. Norges Bank bought a new stake in McKesson in the fourth quarter valued at $1,200,361,000. Boston Partners boosted its holdings in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after acquiring an additional 216,432 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company'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 completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred 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 owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,110 shares of company stock valued at $10,855,706 in the last three months. Corporate insiders own 0.11% of the company's stock.

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Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Finally, StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. 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 company's stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average price target of $668.50.

McKesson Trading Up 0.1 %

NYSE MCK traded up $0.79 during trading on Monday, reaching $690.15. 238,601 shares of the company's stock were exchanged, compared to its average volume of 878,674. The firm has a market capitalization of $86.49 billion, a PE ratio of 31.60, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $728.32. The company's fifty day simple moving average is $642.70 and its 200-day simple moving average is $593.86.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. Equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

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

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.