McKesson Co. (NYSE:MCK) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,777 shares of the company's stock after selling 3,087 shares during the period. MML Investors Services LLC's holdings in McKesson were worth $15,261,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MCK. Frank Rimerman Advisors LLC boosted its stake in shares of 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 period. Old North State Trust LLC raised its position in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its stake in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after purchasing an additional 18 shares during the last quarter. Hemington Wealth Management lifted its holdings 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 acquiring an additional 18 shares during the last quarter. Finally, First Western Trust Bank increased its position in McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

McKesson Price Performance

McKesson stock traded up $6.19 during midday trading on Friday, reaching $694.62. 731,510 shares of the company traded hands, compared to its average volume of 892,117. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32. The firm has a market capitalization of $87.05 billion, a price-to-earnings ratio of 31.80, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The business has a 50 day moving average of $661.28 and a two-hundred day moving average of $606.43.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insider Activity at McKesson

In other McKesson 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 transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Bank of America increased their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $668.50.

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.