McKesson Co. (NYSE:MCK) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,365 shares of the company's stock after selling 2,010 shares during the period. Highland Capital Management LLC's holdings in McKesson were worth $4,197,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after purchasing an additional 734,849 shares during the last quarter. FMR LLC raised its holdings in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC boosted its stake in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Finally, Nordea Investment Management AB increased 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 buying an additional 162,688 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company's stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 0.3 %

MCK traded up $1.98 during trading on Thursday, hitting $605.16. The company's stock had a trading volume of 473,045 shares, compared to its average volume of 654,037. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business's 50 day simple moving average is $591.81 and its 200-day simple moving average is $561.82. The firm has a market cap of $76.82 billion, a PE ratio of 31.34, a P/E/G ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the company earned $6.23 earnings per share. McKesson's revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.73 EPS 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 paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson's dividend payout ratio (DPR) is 14.71%.

Analysts Set New Price Targets

A number of analysts have commented on MCK shares. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Finally, Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $646.14.

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.