McKesson Co. (NYSE:MCK) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 53.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 64,364 shares of the company’s stock after selling 73,665 shares during the period. Allspring Global Investments Holdings LLC’s holdings in McKesson were worth $36,444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Creative Planning raised its stake in shares of McKesson by 2.1% during the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after buying an additional 1,316 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. Good Life Advisors LLC raised its stake in McKesson by 36.9% in the 3rd quarter. Good Life Advisors LLC now owns 1,064 shares of the company’s stock valued at $526,000 after purchasing an additional 287 shares during the last quarter. Trust Co. of Vermont raised its stake in McKesson by 7.8% in the 3rd quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock valued at $185,000 after purchasing an additional 27 shares during the last quarter. Finally, TruWealth Advisors LLC raised its stake in McKesson by 8.3% in the 3rd quarter. TruWealth Advisors LLC now owns 983 shares of the company’s stock valued at $486,000 after purchasing an additional 75 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $645.79.

McKesson Stock Performance

Shares of NYSE:MCK opened at $593.82 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The stock has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. The stock has a 50-day simple moving average of $587.46 and a 200-day simple moving average of $563.18.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Analysts predict that McKesson Co. will post 32.69 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the business’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 transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 1,346 shares of company stock valued at $795,275. Corporate insiders own 0.11% 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.