BB&T Corp trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 11.0% in the fourth quarter, Holdings Channel reports. The fund owned 26,409 shares of the company’s stock after selling 3,276 shares during the period. BB&T Corp’s holdings in McKesson were worth $2,918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of MCK. Nordea Investment Management AB increased its position in shares of McKesson by 48.8% during the third quarter. Nordea Investment Management AB now owns 3,300,839 shares of the company’s stock valued at $437,856,000 after acquiring an additional 1,082,398 shares during the last quarter. Matthew Goff Investment Advisor LLC increased its position in McKesson by 13,239.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 987,361 shares of the company’s stock worth $7,402,000 after buying an additional 979,959 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in McKesson in the third quarter worth $92,775,000. Rehmann Capital Advisory Group increased its position in McKesson by 14,640.7% in the third quarter. Rehmann Capital Advisory Group now owns 594,049 shares of the company’s stock worth $4,478,000 after buying an additional 590,019 shares during the last quarter. Finally, Baupost Group LLC MA increased its position in McKesson by 33.7% in the third quarter. Baupost Group LLC MA now owns 2,175,700 shares of the company’s stock worth $288,607,000 after buying an additional 548,000 shares during the last quarter. 85.22% of the stock is owned by institutional investors.

A number of research firms have issued reports on MCK. Deutsche Bank raised McKesson from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a research report on Friday. UBS Group began coverage on McKesson in a research report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 target price for the company. Zacks Investment Research downgraded McKesson from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Barclays reissued a “hold” rating and issued a $124.00 target price on shares of McKesson in a research report on Sunday, January 6th. Finally, ValuEngine downgraded McKesson from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $138.84.

In other news, EVP Lori A. Schechter sold 7,700 shares of McKesson stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total value of $946,792.00. Following the completion of the transaction, the executive vice president now directly owns 10,000 shares in the company, valued at $1,229,600. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Shares of NYSE MCK opened at $127.05 on Friday. The firm has a market capitalization of $24.59 billion, a PE ratio of 10.07, a P/E/G ratio of 1.43 and a beta of 1.06. McKesson Co. has a fifty-two week low of $106.11 and a fifty-two week high of $178.86. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.56.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 25th. The company reported $3.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.32. The company had revenue of $53.08 billion during the quarter, compared to analysts’ expectations of $53.56 billion. McKesson had a return on equity of 26.55% and a net margin of 0.06%. As a group, equities research analysts predict that McKesson Co. will post 13.41 earnings per share for the current year.

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About McKesson

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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