Securian Asset Management Inc Cuts Stake in McKesson Co. (MCK)

Securian Asset Management Inc decreased its holdings in McKesson Co. (NYSE:MCK) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,563 shares of the company’s stock after selling 200 shares during the quarter. Securian Asset Management Inc’s holdings in McKesson were worth $2,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in MCK. Norges Bank bought a new stake in shares of McKesson during the 4th quarter valued at about $215,791,000. Standard Life Aberdeen plc grew its stake in shares of McKesson by 16.7% during the 4th quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock valued at $32,039,000 after purchasing an additional 41,289 shares during the period. Northern Trust Corp grew its stake in shares of McKesson by 1.3% during the 4th quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock valued at $261,783,000 after purchasing an additional 30,134 shares during the period. Segall Bryant & Hamill LLC grew its stake in shares of McKesson by 7.5% during the 4th quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock valued at $316,000 after purchasing an additional 200 shares during the period. Finally, BlackRock Inc. grew its stake in shares of McKesson by 2.3% during the 4th quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock valued at $1,742,522,000 after purchasing an additional 358,982 shares during the period. 85.88% of the stock is owned by institutional investors.

A number of research firms have issued reports on MCK. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a research note on Thursday, May 2nd. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 8th. Barclays restated a “hold” rating and set a $130.00 price target on shares of McKesson in a research note on Friday, February 1st. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a research report on Friday, January 25th. Finally, Wolfe Research started coverage on McKesson in a research report on Tuesday, April 2nd. They set an “outperform” rating on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $134.90.

NYSE MCK traded up $0.83 during trading hours on Friday, reaching $129.92. The company’s stock had a trading volume of 952,367 shares, compared to its average volume of 1,538,221. The company has a current ratio of 1.02, a quick ratio of 0.58 and a debt-to-equity ratio of 0.88. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $151.24. The stock has a market cap of $24.38 billion, a PE ratio of 9.57, a P/E/G ratio of 1.29 and a beta of 1.23.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 EPS for the quarter, topping the Zacks’ consensus estimate of $3.66 by $0.03. McKesson had a return on equity of 29.02% and a net margin of 0.02%. The company had revenue of $52.43 billion for the quarter, compared to analysts’ expectations of $53.14 billion. During the same period in the previous year, the firm earned $3.49 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that McKesson Co. will post 14.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is 11.50%.

In other McKesson news, EVP Lori A. Schechter sold 2,766 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $133.59, for a total value of $369,509.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

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McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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