Meeder Advisory Services Inc. Acquires 52 Shares of McKesson Co. (NYSE:MCK)

Meeder Advisory Services Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 1.4% during the fourth quarter, Holdings Channel reports. The fund owned 3,773 shares of the company’s stock after acquiring an additional 52 shares during the quarter. Meeder Advisory Services Inc.’s holdings in McKesson were worth $2,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of McKesson by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. boosted its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. Norges Bank acquired a new position in shares of McKesson in the fourth quarter valued at approximately $1,200,361,000. Boston Partners increased its stake in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 3.0 %

McKesson stock opened at $694.12 on Thursday. The stock has a market cap of $86.99 billion, a PE ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $695.46. The business’s 50-day moving average price is $629.16 and its two-hundred day moving average price is $582.85.

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 the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated 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 of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction that occurred 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 directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCK. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $656.71.

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.