Corebridge Financial Inc. Has $18.12 Million Position in McKesson Co. (NYSE:MCK)

Corebridge Financial Inc. lowered its stake in McKesson Co. (NYSE:MCK - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,787 shares of the company's stock after selling 2,057 shares during the period. Corebridge Financial Inc.'s holdings in McKesson were worth $18,116,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson during the 4th quarter worth about $28,000. RPg Family Wealth Advisory LLC bought a new position in McKesson in the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. Finally, Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter worth $34,000. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded up $2.58 during trading hours on Friday, hitting $668.25. 566,680 shares of the company's stock were exchanged, compared to its average volume of 837,100. The stock's 50-day moving average is $623.58 and its 200-day moving average is $579.34. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $672.00. The stock has a market cap of $83.75 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

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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 net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were 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 of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 14th. The stock was 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 of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Finally, Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $649.36.

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.