SurgoCap Partners LP Cuts Stock Position in McKesson Co. (NYSE:MCK)

SurgoCap Partners LP lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 508,881 shares of the company's stock after selling 99,436 shares during the quarter. McKesson accounts for about 14.9% of SurgoCap Partners LP's portfolio, making the stock its 2nd largest position. SurgoCap Partners LP owned about 0.40% of McKesson worth $290,016,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter valued at about $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new stake in McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC purchased a new stake in McKesson during the 4th quarter worth approximately $38,000. Institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.2%

MCK stock traded down $1.24 during trading on Wednesday, hitting $717.95. 812,321 shares of the company's stock traded hands, compared to its average volume of 917,162. The stock has a fifty day moving average price of $686.37 and a two-hundred day moving average price of $630.52. The stock has a market capitalization of $89.82 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now directly owns 1,972 shares of the company's stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several research reports. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Bank of America upped their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $686.69.

McKesson Company Profile

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.