McKesson Co. (NYSE:MCK) Shares Sold by Seed Wealth Management Inc.

Seed Wealth Management Inc. cut its stake in McKesson Co. (NYSE:MCK) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,474 shares of the company’s stock after selling 50 shares during the period. Seed Wealth Management Inc.’s holdings in McKesson were worth $791,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $1,024,140,000. International Assets Investment Management LLC grew its position in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the last quarter. TD Asset Management Inc increased its stake in McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares during the period. Morgan Stanley raised its holdings in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after buying an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after buying an additional 272,266 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen upped their price objective on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. UBS Group upped their price target on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company lifted their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research report on Thursday, May 9th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 18th. Finally, Robert W. Baird lifted their price objective on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

Insider Buying and Selling at McKesson

In other news, Director Maria Martinez sold 483 shares of McKesson stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Leann B. Smith sold 600 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the transaction, the executive vice president now directly owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maria Martinez sold 483 shares of McKesson stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,814 shares of company stock worth $14,511,649. Corporate insiders own 0.21% of the company’s stock.

McKesson Price Performance

MCK traded down $6.36 during midday trading on Thursday, reaching $593.20. 768,630 shares of the company’s stock were exchanged, compared to its average volume of 707,215. The business’s 50-day moving average price is $563.21 and its 200 day moving average price is $523.26. The stock has a market capitalization of $77.08 billion, a PE ratio of 26.51, a P/E/G ratio of 1.41 and a beta of 0.47. McKesson Co. has a 1-year low of $395.30 and a 1-year high of $612.17.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.19 EPS. As a group, analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s payout ratio is 11.08%.

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.