Allspring Global Investments Holdings LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Allspring Global Investments Holdings LLC reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 53.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,364 shares of the company's stock after selling 73,665 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of McKesson worth $36,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new position in McKesson during the fourth quarter worth about $32,000. Finally, Crews Bank & Trust purchased a new position in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of several analyst reports. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Morgan Stanley raised 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. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Bank of America cut 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $645.79.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock worth $6,177,790 over the last quarter. Corporate insiders own 0.11% of the company's stock.

McKesson Trading Up 0.2 %

Shares of MCK stock traded up $1.21 during trading hours on Tuesday, hitting $594.90. 322,559 shares of the company's stock were exchanged, compared to its average volume of 737,134. The company has a market capitalization of $75.52 billion, a PE ratio of 27.30, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business's 50 day simple moving average is $587.30 and its 200-day simple moving average is $562.13.

McKesson (NYSE:MCK - Get Free Report) last issued its 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 negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 13.00%.

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.