Prudential PLC Has $4.74 Million Position in McKesson Co. (NYSE:MCK)

Prudential PLC lessened its holdings in McKesson Co. (NYSE:MCK) by 51.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,311 shares of the company’s stock after selling 8,841 shares during the quarter. Prudential PLC’s holdings in McKesson were worth $4,737,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MCK. Norges Bank bought a new position in shares of McKesson during the 4th quarter worth approximately $1,200,361,000. Proficio Capital Partners LLC acquired a new position in McKesson during the fourth quarter worth $178,397,000. Alliancebernstein L.P. lifted its holdings in shares of McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after acquiring an additional 272,068 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of McKesson in the 4th quarter valued at $128,125,000. Finally, Boston Partners grew its holdings in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred 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 transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the company’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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 4.8 %

McKesson stock opened at $682.41 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.32. The company’s 50-day moving average is $633.37 and its two-hundred day moving average is $585.40. The company has a market cap of $85.52 billion, a PE ratio of 31.25, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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%. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on MCK shares. Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup reduced 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. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $661.00.

McKesson Company 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.