Chevy Chase Trust Holdings LLC Cuts Stock Position in McKesson Co. (NYSE:MCK)

Chevy Chase Trust Holdings LLC lessened its stake in McKesson Co. (NYSE:MCK) by 4.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,118 shares of the company’s stock after selling 2,858 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in McKesson were worth $38,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $32,000. Finally, Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.4 %

Shares of NYSE:MCK opened at $593.82 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a market capitalization of $75.38 billion, a PE ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. The business has a 50 day moving average of $587.46 and a two-hundred day moving average of $563.18.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts predict that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 1,346 shares of company stock valued at $795,275 in the last three months. 0.11% of the stock is currently owned by company insiders.

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.