UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in McKesson Co. (NYSE:MCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McKesson Co. (NYSE:MCK - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,103,050 shares of the company's stock after buying an additional 95,806 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.87% of McKesson worth $628,639,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MCK. Cibc World Market Inc. boosted its stake in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson in the fourth quarter worth about $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of McKesson by 85.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after acquiring an additional 580 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of McKesson by 6.4% in the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $4,462,000 after acquiring an additional 468 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer now owns 14,760 shares in the company, valued at approximately $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction that occurred 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 owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,127 shares of company stock worth $5,834,498. Insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded up $4.80 during trading on Friday, reaching $715.44. 815,972 shares of the company's stock were exchanged, compared to its average volume of 917,067. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $731.00. The company has a market cap of $89.51 billion, a P/E ratio of 32.76, a PEG ratio of 1.29 and a beta of 0.53. The firm's 50-day moving average price is $689.88 and its 200 day moving average price is $633.70.

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

McKesson Dividend Announcement

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

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Finally, UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company 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.