Navalign LLC Has $1.76 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Navalign LLC trimmed its position in McKesson Co. (NYSE:MCK) by 5.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,803 shares of the company’s stock after selling 213 shares during the period. McKesson comprises approximately 0.6% of Navalign LLC’s portfolio, making the stock its 26th largest holding. Navalign LLC’s holdings in McKesson were worth $1,761,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of McKesson by 1.1% during the second quarter. BlackRock Inc. now owns 11,514,039 shares of the company’s stock worth $4,920,064,000 after buying an additional 122,156 shares during the last quarter. State Street Corp grew its holdings in McKesson by 3.0% during the 2nd quarter. State Street Corp now owns 6,508,134 shares of the company’s stock worth $2,784,399,000 after acquiring an additional 187,371 shares during the period. Massachusetts Financial Services Co. MA raised 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 valued at $2,238,953,000 after acquiring an additional 708,438 shares during the last quarter. Morgan Stanley lifted its stake in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after purchasing an additional 294,832 shares during the period. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter worth $633,960,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 14,026 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $20,853,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 14,026 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $20,853,600. The disclosure for this sale can be found here. Insiders sold 17,685 shares of company stock worth $8,646,498 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. TD Cowen upped their target price on shares of McKesson from $508.00 to $563.00 and gave the company an “outperform” rating in a research note on Monday, December 11th. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company began coverage on McKesson in a report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

McKesson Stock Down 0.4 %

Shares of NYSE:MCK traded down $2.41 during mid-day trading on Thursday, reaching $536.85. 706,472 shares of the stock were exchanged, compared to its average volume of 738,280. The company has a market cap of $70.55 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.64 and a beta of 0.44. The stock’s 50 day simple moving average is $512.99 and its 200-day simple moving average is $475.15. McKesson Co. has a one year low of $352.34 and a one year high of $540.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the company earned $6.90 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 1st will be paid a dividend of $0.62 per share. The ex-dividend date is Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s dividend payout ratio is 11.24%.

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.