Generate Investment Management Ltd lowered its position in McKesson Corporation (NYSE:MCK - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,804 shares of the company's stock after selling 4,753 shares during the period. Generate Investment Management Ltd's holdings in McKesson were worth $9,290,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its stake in McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after buying an additional 222,496 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. GAMMA Investing LLC increased its position in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of McKesson during the 4th quarter worth $1,200,361,000. 85.07% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now owns 51,243 shares of the company's stock, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,117 shares of company stock worth $23,526,451 in the last three months. 0.11% of the stock is currently owned by corporate insiders.
McKesson Trading Down 0.2%
Shares of NYSE MCK traded down $1.64 during mid-day trading on Wednesday, hitting $719.18. The company had a trading volume of 529,889 shares, compared to its average volume of 920,365. The stock's 50-day moving average price is $709.57 and its 200-day moving average price is $649.70. The company has a market capitalization of $89.98 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 1.44 and a beta of 0.49. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $733.10.
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, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the business posted $6.18 earnings per share. The company's revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.
McKesson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. UBS Group raised their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley raised their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Bank of America lifted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $696.42.
Check Out Our Latest Stock Analysis on MCK
About McKesson
(
Free Report)
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.
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