Haverford Financial Services Inc. Decreases Stake in McKesson Co. (NYSE:MCK)

Haverford Financial Services Inc. cut its holdings in McKesson Co. (NYSE:MCK - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,762 shares of the company's stock after selling 621 shares during the period. McKesson accounts for 2.4% of Haverford Financial Services Inc.'s portfolio, making the stock its 19th largest holding. Haverford Financial Services Inc.'s holdings in McKesson were worth $7,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cibc World Market Inc. raised its stake in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after acquiring an additional 1,207 shares during the period. West Oak Capital LLC increased its stake in shares of McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $3,018,000. Ingalls & Snyder LLC boosted its holdings in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the period. Finally, Nordea Investment Management AB increased its stake in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after buying an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Remove Ads

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last three months. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.5 %

NYSE:MCK traded up $3.38 during mid-day trading on Thursday, reaching $666.40. The company's stock had a trading volume of 690,142 shares, compared to its average volume of 803,247. The firm has a market capitalization of $83.52 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a fifty day moving average of $622.07 and a 200-day moving average of $577.72. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $671.58.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is 13.00%.

Analyst Upgrades and Downgrades

MCK has been the topic of several research analyst reports. Mizuho initiated coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective on the stock. Wells Fargo & Company boosted their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. 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. Finally, Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $649.36.

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.