McKesson Co. (NYSE:MCK) Shares Sold by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC cut its holdings in McKesson Co. (NYSE:MCKFree Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 15,517 shares of the company’s stock after selling 1,545 shares during the period. Cetera Advisor Networks LLC’s holdings in McKesson were worth $7,184,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Williamson Legacy Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $1,526,000. Crossmark Global Holdings Inc. lifted its position in McKesson by 10.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 22,762 shares of the company’s stock valued at $10,539,000 after purchasing an additional 2,099 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in McKesson by 83.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,467 shares of the company’s stock valued at $7,624,000 after purchasing an additional 7,494 shares during the last quarter. Capital International Investors lifted its position in McKesson by 50.6% in the 4th quarter. Capital International Investors now owns 219,532 shares of the company’s stock valued at $101,639,000 after purchasing an additional 73,745 shares during the last quarter. Finally, Lake Street Advisors Group LLC bought a new stake in McKesson in the 4th quarter valued at about $714,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The disclosure for this sale can be found here. Insiders have sold a total of 28,204 shares of company stock valued at $15,699,113 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of several recent research reports. Citigroup lifted their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. UBS Group lifted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Argus boosted their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Barclays boosted their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $571.47.

Read Our Latest Research Report on MCK

McKesson Price Performance

NYSE MCK opened at $586.90 on Friday. The company’s 50 day simple moving average is $545.73 and its 200 day simple moving average is $510.77. McKesson Co. has a 12 month low of $383.82 and a 12 month high of $591.80. The company has a market capitalization of $76.29 billion, a P/E ratio of 26.22, a PEG ratio of 1.37 and a beta of 0.47.

McKesson (NYSE:MCKGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the firm earned $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is currently 11.08%.

About McKesson

(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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