Universal Beteiligungs und Servicegesellschaft mbH Invests $55.95 Million in McKesson Co. (NYSE:MCK)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,170 shares of the company's stock, valued at approximately $55,948,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.08% of McKesson at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the fourth quarter valued at about $26,000. Millstone Evans Group LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust bought a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Finally, Atala Financial Inc bought a new stake in shares of McKesson in the fourth quarter valued at about $34,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 1.0%

MCK stock traded up $6.99 during midday trading on Friday, reaching $719.85. The company's stock had a trading volume of 1,322,227 shares, compared to its average volume of 916,780. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The stock has a market cap of $90.06 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business's 50-day simple moving average is $695.18 and its 200-day simple moving average is $637.77.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer now owns 14,028 shares in the company, valued at $10,070,841.48. The trade was a 11.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,856 shares of company stock worth $7,793,675 over the last ninety days. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, McKesson has an average rating of "Moderate Buy" and an average target price of $686.69.

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.