River Global Investors LLP Sells 6,055 Shares of McKesson Co. (NYSE:MCK)

River Global Investors LLP lowered its stake in shares of McKesson Co. (NYSE:MCK) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,883 shares of the company’s stock after selling 6,055 shares during the period. McKesson accounts for about 1.5% of River Global Investors LLP’s investment portfolio, making the stock its 13th largest position. River Global Investors LLP’s holdings in McKesson were worth $7,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in McKesson in the third quarter worth $26,000. Legacy Financial Group LLC bought a new position in McKesson during the third quarter valued at $27,000. BKM Wealth Management LLC bought a new position in McKesson during the fourth quarter valued at $31,000. WASHINGTON TRUST Co increased its position in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. Finally, Milestone Investment Advisors LLC bought a new position in McKesson during the third quarter valued at $61,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Trading Down 0.3 %

McKesson stock traded down $1.41 during mid-day trading on Friday, hitting $528.86. The company had a trading volume of 866,981 shares, compared to its average volume of 626,262. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The company’s fifty day moving average is $530.13 and its 200-day moving average is $491.57. The company has a market capitalization of $69.50 billion, a price-to-earnings ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the firm posted $6.90 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Argus boosted their target price on shares of McKesson from $510.00 to $570.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Citigroup upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group upped their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $536.71.

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.