Royal London Asset Management Ltd. Boosts Stake in McKesson Co. (NYSE:MCK)

Royal London Asset Management Ltd. raised its position in McKesson Co. (NYSE:MCK) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,691 shares of the company’s stock after buying an additional 1,085 shares during the period. Royal London Asset Management Ltd.’s holdings in McKesson were worth $35,158,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Thrivent Financial for Lutherans increased its stake in McKesson by 5.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock valued at $9,964,000 after buying an additional 1,106 shares during the last quarter. Prospera Financial Services Inc increased its stake in McKesson by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company’s stock valued at $1,267,000 after buying an additional 133 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of McKesson by 5.2% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $357,000 after acquiring an additional 36 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of McKesson during the 3rd quarter valued at approximately $2,148,000. Finally, Advisors Asset Management Inc. grew its position in shares of McKesson by 2.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 11,471 shares of the company’s stock valued at $5,671,000 after acquiring an additional 319 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $666.46 on Friday. The firm has a fifty day moving average price of $614.59 and a two-hundred day moving average price of $573.65. McKesson Co. has a one year low of $464.42 and a one year high of $670.00. The company has a market cap of $83.52 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly 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%. Equities research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on MCK shares. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price for the company. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America reduced 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. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Citigroup cut their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $649.36.

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’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 owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,689 shares of company stock worth $11,187,351. 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.