Vontobel Holding Ltd. Reduces Stock Holdings in McKesson Corporation (NYSE:MCK)

Vontobel Holding Ltd. trimmed its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,824 shares of the company's stock after selling 5,218 shares during the quarter. Vontobel Holding Ltd.'s holdings in McKesson were worth $38,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC boosted its position in 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 buying an additional 2,389,992 shares during the period. Norges Bank bought a new position in shares of McKesson during the fourth quarter valued at about $1,200,361,000. Farallon Capital Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $348,044,000. Marshall Wace LLP grew its stake in shares of McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after purchasing an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC purchased a new position in McKesson during the 4th quarter valued at about $182,861,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK stock traded down $13.41 on Wednesday, reaching $714.33. 197,758 shares of the company traded hands, compared to its average volume of 921,076. The firm has a fifty day simple moving average of $712.79 and a 200-day simple moving average of $654.69. The company has a market cap of $89.37 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 1.46 and a beta of 0.48. McKesson Corporation has a one year low of $464.42 and a one year high of $736.96.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly 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. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Buying and Selling at McKesson

In related news, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction on 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 directly owned 14,028 shares of the company's stock, valued at $10,070,841.48. This trade represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock worth $23,526,451. Insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCK shares. Morgan Stanley increased their price objective on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho boosted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $696.42.

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.