Headlands Technologies LLC Lowers Position in McKesson Co. (NYSE:MCK)

Headlands Technologies LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 92.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 509 shares of the company’s stock after selling 6,026 shares during the quarter. Headlands Technologies LLC’s holdings in McKesson were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was 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 in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The stock was 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 directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Morgan Stanley raised their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $661.00.

McKesson Trading Down 4.8 %

McKesson stock opened at $682.41 on Friday. The firm has a market cap of $85.52 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32. The firm has a 50-day moving average of $633.37 and a 200-day moving average of $584.91.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

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.