USS Investment Management Ltd Sells 3,098 Shares of McKesson Co. (NYSE:MCK)

USS Investment Management Ltd lessened its holdings in McKesson Co. (NYSE:MCK - Free Report) by 12.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,083 shares of the company's stock after selling 3,098 shares during the period. USS Investment Management Ltd's holdings in McKesson were worth $12,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of McKesson in the 4th quarter worth about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust purchased a new stake in McKesson in the 4th quarter valued at about $33,000. Atala Financial Inc purchased a new stake in McKesson in the 4th quarter valued at about $34,000. Finally, Graney & King LLC purchased a new stake in McKesson in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of McKesson stock traded up $4.80 on Friday, reaching $715.44. 815,972 shares of the company traded hands, compared to its average volume of 917,067. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The company has a 50 day moving average of $689.88 and a 200 day moving average of $633.70. The firm has a market capitalization of $89.51 billion, a PE ratio of 32.76, a PEG ratio of 1.29 and a beta of 0.53.

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

McKesson Announces Dividend

The firm 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 1,248 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president now directly owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer now directly owns 14,760 shares of the company's stock, valued at approximately $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,127 shares of company stock valued at $5,834,498. Company insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MCK shares. Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Bank of America increased their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company increased their price objective 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. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus 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.