Vontobel Holding Ltd. Sells 15,365 Shares of McKesson Co. (NYSE:MCK)

Vontobel Holding Ltd. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 19.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,042 shares of the company’s stock after selling 15,365 shares during the quarter. Vontobel Holding Ltd.’s holdings in McKesson were worth $35,928,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Creative Planning boosted its stake in shares of McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in shares of 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 during the last quarter. Good Life Advisors LLC boosted its stake in shares of McKesson by 36.9% in the 3rd quarter. Good Life Advisors LLC now owns 1,064 shares of the company’s stock valued at $526,000 after purchasing an additional 287 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of McKesson by 7.8% in the 3rd quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock valued at $185,000 after purchasing an additional 27 shares during the last quarter. Finally, TruWealth Advisors LLC boosted its stake in shares of McKesson by 8.3% in the 3rd quarter. TruWealth Advisors LLC now owns 983 shares of the company’s stock valued at $486,000 after purchasing an additional 75 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 1,346 shares of company stock worth $795,275 over the last quarter. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $593.82 on Friday. The firm has a 50-day moving average of $587.46 and a 200-day moving average of $563.18. The company has a market cap of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts expect that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.