Chesley Taft & Associates LLC Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

Posted by Defense World Staff on Mar 30th, 2023

Chesley Taft & Associates LLC decreased its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 49.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 647 shares of the company’s stock after selling 645 shares during the quarter. Chesley Taft & Associates LLC’s holdings in McKesson were worth $243,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MCK. WCM Investment Management LLC purchased a new position in shares of McKesson during the 3rd quarter valued at $302,630,000. Arrowstreet Capital Limited Partnership increased its holdings in McKesson by 53.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock valued at $280,399,000 after acquiring an additional 320,588 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in McKesson by 7,667.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 230,062 shares of the company’s stock valued at $78,191,000 after acquiring an additional 227,100 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in McKesson in the 3rd quarter valued at $73,045,000. Finally, First Republic Investment Management Inc. increased its holdings in McKesson by 134.4% in the 3rd quarter. First Republic Investment Management Inc. now owns 297,009 shares of the company’s stock valued at $100,944,000 after acquiring an additional 170,299 shares during the last quarter. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nancy Avila sold 161 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the sale, the executive vice president now directly owns 4,631 shares of the company’s stock, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

McKesson Trading Up 0.8 %

Shares of NYSE:MCK opened at $357.16 on Thursday. The company has a market capitalization of $48.91 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.29 and a beta of 0.59. McKesson Co. has a 12 month low of $298.69 and a 12 month high of $401.78. The firm’s 50-day moving average is $357.39 and its 200 day moving average is $365.40.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.36 by $0.54. The company had revenue of $70.49 billion during the quarter, compared to analysts’ expectations of $70.98 billion. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $6.15 EPS. As a group, equities analysts forecast that McKesson Co. will post 25.93 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Wednesday, March 1st will be given a $0.54 dividend. The ex-dividend date is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 0.60%. McKesson’s dividend payout ratio (DPR) is 9.88%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCK. UBS Group reduced their price target on shares of McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a report on Tuesday, January 31st. StockNews.com began coverage on shares of McKesson in a report on Thursday, March 16th. They issued a “strong-buy” rating on the stock. Morgan Stanley boosted their target price on shares of McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, Robert W. Baird boosted their target price on shares of McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $416.30.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).