Navalign LLC Cuts Stake in McKesson Co. (NYSE:MCK)

Navalign LLC trimmed its position in shares of McKesson Co. (NYSE:MCK) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,803 shares of the company’s stock after selling 213 shares during the quarter. McKesson accounts for approximately 0.6% of Navalign LLC’s portfolio, making the stock its 26th largest holding. Navalign LLC’s holdings in McKesson were worth $1,761,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of McKesson by 1.1% in the 2nd quarter. BlackRock Inc. now owns 11,514,039 shares of the company’s stock worth $4,920,064,000 after acquiring an additional 122,156 shares during the period. State Street Corp grew its holdings in McKesson by 3.0% in the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock valued at $2,784,399,000 after purchasing an additional 187,371 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of McKesson by 16.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares in the last quarter. Morgan Stanley raised its stake in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson in the 4th quarter worth about $633,960,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

NYSE:MCK traded down $2.41 during trading hours on Thursday, reaching $536.85. 706,472 shares of the company were exchanged, compared to its average volume of 738,280. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.64 and a beta of 0.44. The stock has a 50 day simple moving average of $512.99 and a 200 day simple moving average of $475.15. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $540.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $6.90 earnings per share. On average, analysts predict that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a $0.62 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MCK shares. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research report on Monday, February 26th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. UBS Group upped their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Barclays initiated coverage on McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $522.21.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 14,026 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 14,026 shares of McKesson stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $20,853,600. The disclosure for this sale can be found here. Insiders have sold a total of 17,685 shares of company stock valued at $8,646,498 over the last ninety days. Corporate insiders own 0.21% 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.