Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Mitsubishi UFJ Trust & Banking Corp decreased its position in McKesson Co. (NYSE:MCK - Free Report) by 13.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,493 shares of the company's stock after selling 18,071 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of McKesson worth $68,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Frank Rimerman Advisors LLC boosted its position in McKesson by 2.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after buying an additional 17 shares during the last quarter. Old North State Trust LLC raised its holdings in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after purchasing an additional 18 shares during the last quarter. Trust Co. of Vermont lifted its position in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after purchasing an additional 18 shares during the period. Hemington Wealth Management boosted its stake in shares of McKesson by 18.6% in the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after buying an additional 18 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its stake in shares of McKesson by 0.4% during the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

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McKesson Price Performance

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

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

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCK. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Bank of America decreased 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. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Finally, Evercore ISI boosted their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, McKesson presently has an average rating of "Moderate Buy" and a consensus price target of $649.36.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the 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 of the company's stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by company insiders.

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.