Man Group plc Acquires 78,734 Shares of McKesson Co. (NYSE:MCK)

Man Group plc raised its position in McKesson Co. (NYSE:MCK - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,741 shares of the company's stock after acquiring an additional 78,734 shares during the quarter. McKesson makes up about 0.4% of Man Group plc's investment portfolio, making the stock its 28th largest holding. Man Group plc owned 0.20% of McKesson worth $146,319,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research analyst reports. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Bank of America raised their price target 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. Evercore ISI raised their price target 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. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $686.69.

McKesson Stock Up 0.1%

NYSE:MCK opened at $687.93 on Wednesday. The company has a fifty day moving average of $680.08 and a 200-day moving average of $623.42. The firm has a market capitalization of $86.22 billion, a P/E ratio of 31.50, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 EPS. On average, analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson 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.

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