Ninety One UK Ltd Has $55.55 Million Stake in McKesson Corporation (NYSE:MCK)

Ninety One UK Ltd lessened its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,546 shares of the company's stock after selling 41,926 shares during the quarter. Ninety One UK Ltd owned approximately 0.07% of McKesson worth $55,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MCK. Capital A Wealth Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in shares of McKesson during the 4th quarter worth approximately $34,000. Graney & King LLC bought a new position in shares of McKesson during the 4th quarter worth approximately $38,000. Finally, CoreFirst Bank & Trust bought a new position in shares of McKesson during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded down $11.48 on Tuesday, reaching $723.85. 554,461 shares of the stock were exchanged, compared to its average volume of 925,558. The stock has a market cap of $90.56 billion, a PE ratio of 28.02, a P/E/G ratio of 1.44 and a beta of 0.48. McKesson Corporation has a one year low of $464.42 and a one year high of $737.97. The stock has a 50 day moving average price of $714.88 and a 200 day moving average price of $659.39.

McKesson (NYSE:MCK - Get Free Report) last released its 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 during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.18 earnings per share. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is 10.99%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Wells Fargo & Company set a $766.00 target price on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Mizuho raised their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley raised their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $696.42.

Insider Buying and Selling

In related news, CFO Britt J. Vitalone sold 1,878 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the sale, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president owned 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.08% of the company's stock.

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.