First Horizon Advisors Inc. Has $12.77 Million Stake in McKesson Co. (NYSE:MCK)

First Horizon Advisors Inc. reduced its stake in McKesson Co. (NYSE:MCK) by 3.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,397 shares of the company’s stock after selling 828 shares during the quarter. First Horizon Advisors Inc.’s holdings in McKesson were worth $12,765,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC lifted its position in McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after acquiring an additional 321,119 shares during the last quarter. Nordea Investment Management AB boosted its holdings in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.0 %

MCK stock opened at $597.68 on Friday. The firm has a market cap of $74.91 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business’s 50 day moving average is $589.02 and its 200-day moving average is $562.01.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on MCK shares. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Wells Fargo & Company increased their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Bank of America cut their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $645.79.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,307 shares of company stock valued at $6,177,790. Corporate insiders own 0.11% of the company’s stock.

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.