Everence Capital Management Inc. Has $3.27 Million Position in McKesson Co. (NYSE:MCK)

Everence Capital Management Inc. decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 29.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,744 shares of the company’s stock after selling 2,390 shares during the quarter. Everence Capital Management Inc.’s holdings in McKesson were worth $3,274,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. FMR LLC boosted its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. Geode Capital Management LLC grew its holdings in McKesson by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after buying an additional 26,299 shares in the last quarter. Legal & General Group Plc increased its position in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on MCK. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Citigroup upped their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $650.14.

McKesson Stock Up 2.0 %

Shares of NYSE MCK traded up $11.12 during midday trading on Friday, reaching $577.33. 140,191 shares of the company were exchanged, compared to its average volume of 244,010. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The stock has a market cap of $73.29 billion, a P/E ratio of 29.90, a PEG ratio of 1.25 and a beta of 0.49. The stock’s 50-day moving average price is $583.30 and its 200-day moving average price is $562.25.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This represents a 28.64 % 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. Corporate insiders own 0.11% of the company’s stock.

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.