Commerce Bank Cuts Holdings in McKesson Co. (NYSE:MCK)

Commerce Bank decreased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,653 shares of the company's stock after selling 17,128 shares during the quarter. Commerce Bank owned approximately 0.11% of McKesson worth $79,590,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. boosted its stake in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the period. Norges Bank purchased a new stake in McKesson during the 4th quarter valued at approximately $1,200,361,000. Boston Partners raised its position in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after buying an additional 216,432 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of McKesson by 20.0% in 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 in the last quarter. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK traded down $7.29 during midday trading on Wednesday, hitting $687.88. The stock had a trading volume of 424,443 shares, compared to its average volume of 887,473. The stock's 50 day moving average is $655.50 and its 200 day moving average is $603.03. The firm has a market cap of $86.21 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32.

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 analysts' consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson's dividend payout ratio (DPR) is 13.00%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last three months. Corporate insiders own 0.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Citigroup reduced their price target on shares of 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 lifted their target price on McKesson from $665.00 to $755.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $668.50.

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.