McKesson Corporation $MCK Position Trimmed by Schroder Investment Management Group

Schroder Investment Management Group trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,874 shares of the company’s stock after selling 24,816 shares during the period. Schroder Investment Management Group owned 0.12% of McKesson worth $107,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Norges Bank bought a new position in McKesson in the second quarter worth about $1,346,661,000. Nuveen LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $475,235,000. Wellington Management Group LLP lifted its holdings in shares of McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after purchasing an additional 418,524 shares during the last quarter. Boston Partners boosted its position in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the period. Finally, Voya Investment Management LLC grew its stake in McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after buying an additional 312,473 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MCK. Bank of America raised their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Wells Fargo & Company upped their target price on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.5%

McKesson stock opened at $879.00 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The stock has a market cap of $108.49 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 1.46 and a beta of 0.51. The company’s 50-day moving average price is $807.11 and its two-hundred day moving average price is $741.23.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm posted $7.07 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

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.