Truist Financial Corp Lowers Position in McKesson Co. (NYSE:MCK)

Truist Financial Corp reduced its holdings in McKesson Co. (NYSE:MCK - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,787 shares of the company's stock after selling 825 shares during the quarter. Truist Financial Corp owned about 0.06% of McKesson worth $40,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Human Investing LLC acquired a new position in shares of McKesson during the 4th quarter valued at $115,000. Principal Financial Group Inc. raised its holdings in shares of McKesson by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 284,648 shares of the company's stock valued at $162,224,000 after purchasing an additional 7,515 shares during the period. Americana Partners LLC bought a new position in shares of McKesson during the 4th quarter worth about $206,000. Capital Performance Advisors LLP grew its stake in shares of McKesson by 1,155.2% in the 4th quarter. Capital Performance Advisors LLP now owns 364 shares of the company's stock valued at $208,000 after buying an additional 335 shares during the period. Finally, Keystone Financial Services increased its position in McKesson by 2.7% in the 4th quarter. Keystone Financial Services now owns 1,387 shares of the company's stock valued at $791,000 after buying an additional 37 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of McKesson stock traded down $5.83 during trading hours on Friday, hitting $597.68. 671,026 shares of the company's stock traded hands, compared to its average volume of 745,545. The stock has a market capitalization of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 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 company has a fifty day simple moving average of $588.60 and a 200-day simple moving average of $562.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. On average, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is currently 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. The trade was 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 ninety days. 0.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MCK shares. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Citigroup lowered 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. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a report on Friday, December 13th. Finally, Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $645.79.

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.