McKesson Co. (NYSE:MCK) Holdings Reduced by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,947 shares of the company's stock after selling 3,784 shares during the period. Great Lakes Advisors LLC owned 0.06% of McKesson worth $41,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MCK. EverSource Wealth Advisors LLC lifted its stake in McKesson by 7.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,007 shares of the company's stock valued at $1,144,000 after purchasing an additional 144 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of McKesson by 6.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,008 shares of the company's stock worth $3,994,000 after purchasing an additional 414 shares during the last quarter. PFG Advisors acquired a new position in shares of McKesson during the 4th quarter worth $228,000. HighTower Advisors LLC grew its stake in McKesson by 113.1% in the 4th quarter. HighTower Advisors LLC now owns 72,408 shares of the company's stock valued at $41,266,000 after buying an additional 38,433 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in McKesson by 21.4% in the 4th quarter. Moors & Cabot Inc. now owns 3,474 shares of the company's stock valued at $1,980,000 after buying an additional 613 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on 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 directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company's stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 in the last ninety days. Corporate insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MCK shares. Mizuho assumed coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Evercore ISI increased 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. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research report on Friday, December 13th. Bank of America lowered their price objective 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. Finally, Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $645.79.

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McKesson Stock Performance

Shares of McKesson stock opened at $653.54 on Wednesday. The firm has a 50-day moving average of $604.12 and a 200-day moving average of $568.96. The stock has a market cap of $81.91 billion, a PE ratio of 29.92, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $663.61.

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

McKesson Dividend Announcement

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

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