McKesson Co. (NYSE:MCK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,595 shares of the company's stock after selling 1,547 shares during the period. Thrivent Financial for Lutherans' holdings in McKesson were worth $10,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Citizens Financial Group Inc. RI increased its stake in McKesson by 22.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,279 shares of the company's stock valued at $1,128,000 after buying an additional 421 shares during the period. Pacer Advisors Inc. increased its stake in shares of McKesson by 12.6% during the third quarter. Pacer Advisors Inc. now owns 16,344 shares of the company's stock worth $8,081,000 after acquiring an additional 1,823 shares during the period. Banco Santander S.A. purchased a new position in McKesson during the third quarter worth about $223,000. Icon Wealth Advisors LLC lifted its position in McKesson by 457.5% in the third quarter. Icon Wealth Advisors LLC now owns 2,336 shares of the company's stock valued at $1,155,000 after purchasing an additional 1,917 shares during the period. Finally, Meridian Wealth Management LLC boosted its holdings in McKesson by 18.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 1,535 shares of the company's stock valued at $759,000 after purchasing an additional 237 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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McKesson Stock Down 0.2 %

Shares of NYSE:MCK traded down $1.15 during midday trading on Wednesday, reaching $662.45. The company's stock had a trading volume of 737,849 shares, compared to its average volume of 801,208. The firm has a market cap of $83.02 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50 day moving average price of $619.05 and a 200 day moving average price of $576.50. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In related news, EVP Leann B. Smith sold 188 shares of McKesson 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 approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on MCK shares. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Mizuho initiated 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. Citigroup decreased their price objective 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. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.36.

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.