Pallas Capital Advisors LLC Decreases Stock Holdings in McKesson Co. (NYSE:MCK)

Pallas Capital Advisors LLC reduced its position in shares of McKesson Co. (NYSE:MCKFree Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 549 shares of the company’s stock after selling 42 shares during the period. Pallas Capital Advisors LLC’s holdings in McKesson were worth $254,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MCK. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter worth $633,960,000. Massachusetts Financial Services Co. MA lifted its position in shares of McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after purchasing an additional 595,518 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after acquiring an additional 320,588 shares in the last quarter. Finally, Morgan Stanley raised its stake in McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.6 %

Shares of NYSE:MCK opened at $533.27 on Wednesday. The company has a market cap of $70.08 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.64 and a beta of 0.45. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $540.00. The firm’s 50-day simple moving average is $515.89 and its 200-day simple moving average is $477.96.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.90 earnings per share. On average, research analysts forecast that McKesson Co. will post 27.61 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio is currently 11.24%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCK. Mizuho lifted their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. SVB Leerink began coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $522.21.

Read Our Latest Research Report on MCK

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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