TIAA Trust National Association Grows Holdings in McKesson Co. (NYSE:MCK)

TIAA Trust National Association boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 2.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 7,966 shares of the company’s stock after purchasing an additional 166 shares during the period. TIAA Trust National Association’s holdings in McKesson were worth $4,540,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MCK. Cibc World Market Inc. increased its position in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock valued at $11,542,000 after acquiring an additional 1,207 shares during the period. West Oak Capital LLC raised its stake in shares of McKesson by 867.7% during the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company’s stock worth $1,710,000 after purchasing an additional 2,690 shares during the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth $3,018,000. Ingalls & Snyder LLC grew its position in McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock valued at $7,878,000 after buying an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in 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 buying an additional 162,688 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction 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 sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $662.45 on Thursday. The firm’s 50-day moving average is $620.63 and its two-hundred day moving average is $577.10. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.79. The company has a market capitalization of $83.02 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared 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 of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Citigroup dropped 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. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

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.