Sumitomo Mitsui Trust Holdings Inc. Sells 11,366 Shares of McKesson Co. (NYSE:MCK)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of McKesson Co. (NYSE:MCK) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 341,854 shares of the company’s stock after selling 11,366 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of McKesson worth $183,524,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. Douglass Winthrop Advisors LLC boosted its holdings in shares of McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after purchasing an additional 21 shares in the last quarter. Addison Advisors LLC boosted its stake in McKesson by 7.9% in the fourth quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares in the last quarter. Evergreen Wealth Solutions LLC grew its position in McKesson by 1.2% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after acquiring an additional 22 shares during the last quarter. RMR Wealth Builders raised its stake in shares of McKesson by 5.2% during the first quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after acquiring an additional 23 shares in the last quarter. Finally, Keystone Financial Services lifted its holdings in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCK. Deutsche Bank Aktiengesellschaft decreased their target price 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. Wells Fargo & Company boosted their target price on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. Citigroup raised their price target on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. UBS Group boosted their price objective on McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Robert W. Baird lifted their target price on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Stock Performance

Shares of NYSE MCK traded down $3.79 during mid-day trading on Wednesday, hitting $581.04. 77,731 shares of the stock traded hands, compared to its average volume of 705,737. The stock has a fifty day moving average price of $567.05 and a 200-day moving average price of $526.51. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.37 and a beta of 0.45. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period last year, the business earned $7.19 earnings per share. As a group, sell-side analysts predict that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, 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 available at this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s 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 owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,814 shares of company stock worth $14,511,649. 0.11% of the stock is owned by insiders.

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.