McKesson Co. (NYSE:MCK) Stake Lowered by River Global Investors LLP

River Global Investors LLP decreased its stake in McKesson Co. (NYSE:MCK) by 30.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,770 shares of the company’s stock after selling 3,014 shares during the period. McKesson accounts for 0.7% of River Global Investors LLP’s portfolio, making the stock its 28th largest position. River Global Investors LLP’s holdings in McKesson were worth $3,856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Banco Santander S.A. lifted its stake in McKesson by 311.1% in the fourth quarter. Banco Santander S.A. now owns 1,854 shares of the company’s stock valued at $1,057,000 after buying an additional 1,403 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in McKesson by 19.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 96,003 shares of the company’s stock valued at $54,713,000 after purchasing an additional 15,356 shares during the last quarter. Camden National Bank boosted its stake in McKesson by 9.6% during the 4th quarter. Camden National Bank now owns 706 shares of the company’s stock valued at $402,000 after purchasing an additional 62 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in McKesson in the 4th quarter worth about $97,000. Finally, Haven Private LLC acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $1,417,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Mizuho initiated 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. Citigroup reduced their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $645.79.

Insider Activity 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 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction on 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 of the company’s stock, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Up 0.5 %

MCK opened at $644.92 on Friday. The firm has a market cap of $80.82 billion, a PE ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a fifty day simple moving average of $600.67 and a 200-day simple moving average of $567.36. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $653.92.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is currently 13.00%.

About McKesson

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.