River Global Investors LLP Cuts Stock Position in McKesson Co. (NYSE:MCK)

River Global Investors LLP lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 26.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,883 shares of the company's stock after selling 6,055 shares during the quarter. McKesson makes up approximately 1.5% of River Global Investors LLP's holdings, making the stock its 13th biggest position. River Global Investors LLP's holdings in McKesson were worth $7,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. OFI Invest Asset Management purchased a new stake in McKesson in the third quarter worth about $26,000. Legacy Financial Group LLC purchased a new position in McKesson during the third quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $31,000. WASHINGTON TRUST Co increased its stake in shares of McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company's stock worth $53,000 after purchasing an additional 34 shares in the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in shares of McKesson during the 3rd quarter valued at $61,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

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

McKesson Stock Performance

MCK stock traded down $1.41 during midday trading on Friday, reaching $528.86. 866,981 shares of the company traded hands, compared to its average volume of 626,262. The firm has a market capitalization of $69.50 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The business has a 50 day moving average of $530.38 and a 200-day moving average of $492.08.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the business posted $6.90 EPS. McKesson's quarterly revenue was up 14.8% on a year-over-year basis. Research analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Friday, May 31st. McKesson's payout ratio is 11.24%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MCK. Mizuho increased their price target on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Citigroup lifted their target price on McKesson from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday. Leerink Partnrs restated an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Argus lifted their price objective on shares of McKesson from $510.00 to $570.00 and gave the company a "buy" rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley upped their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $536.71.

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.