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

Ninety One UK Ltd lowered its holdings in McKesson Co. (NYSE:MCK) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 124,472 shares of the company’s stock after selling 1,068 shares during the period. Ninety One UK Ltd’s holdings in McKesson were worth $70,938,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth $29,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth about $33,000. Wolff Wiese Magana LLC raised its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter valued at about $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE MCK opened at $603.40 on Wednesday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a market cap of $76.59 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.52. The firm’s fifty day moving average is $590.46 and its two-hundred day moving average is $562.09.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.23 EPS. Research analysts predict that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MCK shares. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Morgan Stanley increased their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company lifted their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Finally, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $646.14.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is currently owned by corporate insiders.

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.