McKesson Corporation $MCK Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of McKesson Corporation (NYSE:MCK) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 827,398 shares of the company’s stock after selling 3,326 shares during the period. Bank of New York Mellon Corp’s holdings in McKesson were worth $639,198,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Norges Bank purchased a new position in McKesson in the 2nd quarter worth $1,346,661,000. Alliancebernstein L.P. increased its holdings in shares of McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after purchasing an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of McKesson by 56.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after purchasing an additional 446,060 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of McKesson by 45.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after purchasing an additional 261,296 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in McKesson by 68.0% in the second quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock valued at $466,441,000 after buying an additional 257,670 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $826.18 on Thursday. The company has a fifty day moving average of $829.36 and a two-hundred day moving average of $772.43. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The stock has a market capitalization of $101.98 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.37 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $7.07 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s dividend payout ratio is presently 10.21%.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of recent research reports. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group increased their price target on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research note on Thursday, November 6th. Finally, TD Cowen restated a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $895.79.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.