McKesson Co. (NYSE:MCK) Holdings Reduced by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,530 shares of the company’s stock after selling 10,165 shares during the period. UniSuper Management Pty Ltd’s holdings in McKesson were worth $21,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter worth about $33,000. Finally, Atala Financial Inc bought a new position in McKesson in the 4th quarter valued at about $34,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

McKesson stock opened at $662.45 on Thursday. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $670.79. The firm’s 50 day simple moving average is $620.63 and its 200-day simple moving average is $577.10. The company has a market cap of $83.02 billion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (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%. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Bank of America reduced their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

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.