Benchmark Investment Advisors LLC Cuts Position in McKesson Co. (NYSE:MCK)

Benchmark Investment Advisors LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 24.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,178 shares of the company’s stock after selling 381 shares during the period. Benchmark Investment Advisors LLC’s holdings in McKesson were worth $671,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. grew its position in McKesson by 4.6% in 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 in the last quarter. Norges Bank bought a new stake in McKesson during the fourth quarter worth approximately $1,200,361,000. Boston Partners raised its position in McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after purchasing an additional 216,432 shares during the period. Finally, Nordea Investment Management AB lifted its stake in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE MCK opened at $682.41 on Friday. The company’s 50-day simple moving average is $633.37 and its two-hundred day simple moving average is $585.40. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company has a market capitalization of $85.52 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS 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%. Equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid 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%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the firm’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 transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by corporate insiders.

McKesson Company 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.