Phoenix Financial Ltd. Decreases Stock Position in McKesson Co. (NYSE:MCK)

Phoenix Financial Ltd. decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,812 shares of the company's stock after selling 574 shares during the quarter. Phoenix Financial Ltd.'s holdings in McKesson were worth $3,313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCK. Geode Capital Management LLC grew its stake in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. increased its holdings in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. Norges Bank bought a new position in McKesson in the fourth quarter valued at about $1,200,361,000. Boston Partners boosted its stake in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after purchasing an additional 216,432 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

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McKesson Stock Performance

MCK stock traded down $1.55 during midday trading on Tuesday, reaching $692.43. 670,494 shares of the company's stock traded hands, compared to its average volume of 881,256. The company has a 50-day moving average price of $644.47 and a two-hundred day moving average price of $595.30. The firm has a market capitalization of $86.78 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's payout ratio is currently 13.00%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the 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 in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Morgan Stanley lifted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

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.