Elo Mutual Pension Insurance Co Sells 482 Shares of McKesson Co. (NYSE:MCK)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 3.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,834 shares of the company’s stock after selling 482 shares during the period. Elo Mutual Pension Insurance Co’s holdings in McKesson were worth $6,744,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cibc World Market Inc. grew its holdings in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the period. West Oak Capital LLC boosted its position in shares of McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares in the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson in the 4th quarter valued at about $3,018,000. Ingalls & Snyder LLC increased its position in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. 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. Wells Fargo & Company upped their target price 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. Finally, Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, 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. In the last 90 days, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $666.40 on Friday. The company has a market capitalization of $83.52 billion, a P/E ratio of 30.51, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company’s 50-day moving average is $622.07 and its 200 day moving average is $577.72. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79.

McKesson (NYSE:MCK) last released 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current 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 is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio is presently 13.00%.

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.