First Interstate Bank decreased its holdings in McKesson Co. (NYSE:MCK) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,883 shares of the company’s stock after selling 1,692 shares during the period. First Interstate Bank’s holdings in McKesson were worth $5,839,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of McKesson by 2.3% in the fourth quarter. BlackRock Inc. now owns 15,773,706 shares of the company’s stock worth $1,742,522,000 after acquiring an additional 358,982 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in shares of McKesson by 8,651.1% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,416,267 shares of the company’s stock worth $76,000 after acquiring an additional 8,320,093 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of McKesson by 8.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,519,367 shares of the company’s stock worth $609,725,000 after acquiring an additional 435,844 shares during the period. FMR LLC grew its holdings in shares of McKesson by 6.2% in the fourth quarter. FMR LLC now owns 4,366,193 shares of the company’s stock worth $482,334,000 after acquiring an additional 253,731 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of McKesson by 1.3% in the fourth quarter. Northern Trust Corp now owns 2,369,712 shares of the company’s stock worth $261,783,000 after acquiring an additional 30,134 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. ValuEngine upgraded McKesson from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Barclays reiterated a “hold” rating and set a $130.00 target price on shares of McKesson in a research report on Friday, February 1st. Deutsche Bank upgraded McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price on the stock in a research report on Friday, January 25th. Finally, UBS Group assumed coverage on McKesson in a research report on Thursday, January 17th. They set a “neutral” rating and a $134.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $134.90.
Shares of McKesson stock opened at $124.92 on Tuesday. McKesson Co. has a 52 week low of $106.11 and a 52 week high of $151.86. The stock has a market capitalization of $23.69 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 1.25 and a beta of 1.23. The company has a current ratio of 1.02, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.39 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.56 annualized dividend and a dividend yield of 1.25%. McKesson’s payout ratio is 12.36%.
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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