Ninety One UK Ltd Lowers Position in McKesson Co. (NYSE:MCK)

Ninety One UK Ltd trimmed its position in shares of McKesson Co. (NYSE:MCK) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,461 shares of the company’s stock after selling 8,310 shares during the quarter. Ninety One UK Ltd owned approximately 0.13% of McKesson worth $80,772,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Wright Investors Service Inc. grew its position in shares of McKesson by 39.6% during the 4th quarter. Wright Investors Service Inc. now owns 5,902 shares of the company’s stock valued at $2,733,000 after acquiring an additional 1,673 shares during the period. HF Advisory Group LLC raised its stake in shares of McKesson by 21.0% during the 4th quarter. HF Advisory Group LLC now owns 646 shares of the company’s stock worth $299,000 after buying an additional 112 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of McKesson by 1.4% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,582 shares of the company’s stock valued at $3,973,000 after buying an additional 119 shares in the last quarter. KLCM Advisors Inc. grew its stake in McKesson by 15.0% in the 4th quarter. KLCM Advisors Inc. now owns 630 shares of the company’s stock valued at $292,000 after acquiring an additional 82 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in McKesson by 32.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,344 shares of the company’s stock worth $22,382,000 after acquiring an additional 11,923 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK traded down $10.87 during midday trading on Thursday, reaching $515.05. 290,253 shares of the company’s stock were exchanged, compared to its average volume of 684,281. The firm’s 50 day simple moving average is $523.95 and its two-hundred day simple moving average is $485.48. McKesson Co. has a fifty-two week low of $352.34 and a fifty-two week high of $543.00. The stock has a market cap of $67.68 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.90 earnings per share. Equities research analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is presently 11.24%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Argus upped their price objective on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday. Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target on the stock. Finally, Citigroup upped their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.