Shell Asset Management Co. Has $3.88 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Shell Asset Management Co. reduced its holdings in shares of McKesson Co. (NYSE:MCK) by 19.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,809 shares of the company’s stock after selling 1,655 shares during the period. Shell Asset Management Co.’s holdings in McKesson were worth $3,881,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new position in shares of McKesson during the fourth quarter valued at about $34,000. Finally, Graney & King LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Up 3.4%

Shares of NYSE:MCK opened at $705.78 on Friday. The company has a 50 day moving average of $681.75 and a 200 day moving average of $625.19. The stock has a market cap of $88.45 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.48.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. During the same quarter in the previous year, the company earned $6.18 earnings per share. McKesson’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is 10.99%.

Analyst Ratings Changes

Several research firms recently weighed in on MCK. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Mizuho boosted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $686.69.

McKesson Profile

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.