Pictet Asset Management Holding SA Sells 11,053 Shares of McKesson Co. (NYSE:MCK)

Pictet Asset Management Holding SA trimmed its position in shares of McKesson Co. (NYSE:MCK) by 10.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 93,286 shares of the company’s stock after selling 11,053 shares during the period. Pictet Asset Management Holding SA’s holdings in McKesson were worth $53,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MCK. Geode Capital Management LLC raised its holdings in McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. Norges Bank purchased a new stake in shares of McKesson in the 4th quarter worth about $1,200,361,000. Boston Partners increased its stake in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Nordea Investment Management AB lifted its position in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in McKesson by 4.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 727,002 shares of the company’s stock worth $359,444,000 after purchasing an additional 34,262 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $668.25 on Friday. The firm has a market capitalization of $83.75 billion, a P/E ratio of 30.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $672.00. The business has a fifty day moving average of $623.58 and a 200 day moving average of $579.34.

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

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s payout ratio is presently 13.00%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Wells Fargo & Company lifted their target price 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. Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. 0.11% of the stock is currently owned by insiders.

About McKesson

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.