McKesson Co. (NYSE:MCK) Shares Sold by Haverford Trust Co

Haverford Trust Co trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,367 shares of the company's stock after selling 894 shares during the quarter. Haverford Trust Co owned 0.11% of McKesson worth $79,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. boosted its holdings in shares of McKesson by 32.1% in the fourth quarter. Prudential Financial Inc. now owns 144,729 shares of the company's stock worth $82,483,000 after buying an additional 35,132 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in shares of McKesson by 6.2% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,619 shares of the company's stock worth $1,493,000 after acquiring an additional 154 shares during the last quarter. Stevens Capital Management LP bought a new position in shares of McKesson in the fourth quarter worth about $320,000. LPL Financial LLC grew its stake in shares of McKesson by 7.9% during the 4th quarter. LPL Financial LLC now owns 138,196 shares of the company's stock valued at $78,759,000 after acquiring an additional 10,148 shares during the period. Finally, Heron Bay Capital Management increased its holdings in McKesson by 2.4% in the 4th quarter. Heron Bay Capital Management now owns 19,316 shares of the company's stock worth $11,008,000 after acquiring an additional 456 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last quarter. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MCK. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. 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 report on Friday, January 10th. 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, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $649.36.

McKesson Stock Performance

MCK stock traded up $2.58 during mid-day trading on Friday, reaching $668.25. 566,680 shares of the stock traded hands, compared to its average volume of 837,100. The business has a 50-day moving average price of $623.58 and a two-hundred day moving average price of $578.83. The stock has a market capitalization of $83.75 billion, a PE ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $672.00.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is currently 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.