Cypress Capital Management LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,111 shares of the company’s stock after selling 255 shares during the period. Cypress Capital Management LLC’s holdings in McKesson were worth $364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of McKesson in the fourth quarter worth $215,791,000. Standard Life Aberdeen plc boosted its holdings in McKesson by 16.7% in the fourth quarter. Standard Life Aberdeen plc now owns 288,482 shares of the company’s stock worth $32,039,000 after purchasing an additional 41,289 shares during the period. Northern Trust Corp boosted its holdings in 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 purchasing an additional 30,134 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in McKesson by 7.5% in the fourth quarter. Segall Bryant & Hamill LLC now owns 2,861 shares of the company’s stock worth $316,000 after purchasing an additional 200 shares during the period. Finally, BlackRock Inc. boosted its holdings in 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 purchasing an additional 358,982 shares during the period. Institutional investors own 86.35% of the company’s stock.

A number of research firms have commented on MCK. Zacks Investment Research downgraded shares of McKesson from a “hold” rating to a “sell” rating in a report on Thursday, May 2nd. ValuEngine raised shares of McKesson from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 8th. Barclays reaffirmed a “hold” rating and issued a $130.00 price objective on shares of McKesson in a report on Friday, February 1st. Deutsche Bank raised shares of McKesson from a “sell” rating to a “hold” rating and set a $175.00 price objective for the company in a report on Friday, January 25th. Finally, UBS Group began coverage on shares of McKesson in a report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 price objective for the company. 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. McKesson presently has an average rating of “Hold” and a consensus price target of $134.90.

In related news, EVP Lori A. Schechter sold 2,766 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

Shares of MCK traded down $2.14 during midday trading on Wednesday, hitting $123.47. 8,475 shares of the stock traded hands, compared to its average volume of 1,325,710. McKesson Co. has a 1-year low of $106.11 and a 1-year high of $151.86. The company has a market cap of $23.75 billion, a price-to-earnings ratio of 9.12, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.58 and a current ratio of 1.02.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.66 by $0.03. The company had revenue of $52.43 billion during the quarter, compared to the consensus estimate of $53.14 billion. McKesson had a net margin of 0.02% and a return on equity of 29.02%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 earnings per share. Analysts predict that McKesson Co. will post 14.15 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s payout ratio is currently 11.50%.

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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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