Ninety One UK Ltd Decreases Stock Position in McKesson Co. (NYSE:MCK)

Ninety One UK Ltd lessened its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 174,461 shares of the company's stock after selling 8,310 shares during the period. Ninety One UK Ltd owned approximately 0.13% of McKesson worth $80,772,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of McKesson during the first quarter worth approximately $46,000. Synovus Financial Corp grew its position in McKesson by 4.0% in the 1st quarter. Synovus Financial Corp now owns 2,192 shares of the company's stock worth $673,000 after purchasing an additional 85 shares during the last quarter. Prudential PLC bought a new position in McKesson in the 1st quarter worth approximately $1,610,000. Cetera Investment Advisers increased its holdings in shares of McKesson by 17.8% during the first quarter. Cetera Investment Advisers now owns 9,839 shares of the company's stock valued at $3,012,000 after purchasing an additional 1,490 shares during the period. Finally, Moors & Cabot Inc. acquired a new position in McKesson during the 1st quarter valued at about $598,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of McKesson stock traded down $7.11 during midday trading on Thursday, hitting $518.81. The company had a trading volume of 631,236 shares, compared to its average volume of 689,383. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The business's 50 day simple moving average is $523.95 and its two-hundred day simple moving average is $485.48. The stock has a market cap of $68.18 billion, a PE ratio of 23.83, a P/E/G ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $80.90 billion during the quarter, compared to analysts' expectations of $77.93 billion. During the same quarter last year, the company earned $6.90 earnings per share. The firm's revenue was up 14.8% on a year-over-year basis. On average, sell-side analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 annualized dividend and a dividend yield of 0.48%. McKesson's dividend payout ratio is currently 11.24%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the business's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company's stock, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on MCK shares. SVB Leerink assumed coverage on McKesson in a research note on Monday, February 26th. They issued an "outperform" rating and a $600.00 price objective on the stock. Morgan Stanley boosted their target price on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a research note on Monday. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 4th. Citigroup increased their target price on shares of McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. Finally, Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They issued an "overweight" rating and a $537.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $533.50.

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.