Artemis Investment Management LLP Has $10.96 Million Stock Position in McKesson Co. (NYSE:MCK)

Artemis Investment Management LLP increased its stake in shares of McKesson Co. (NYSE:MCK) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,239 shares of the company’s stock after acquiring an additional 2,374 shares during the quarter. Artemis Investment Management LLP’s holdings in McKesson were worth $10,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. acquired a new stake in McKesson in the 3rd quarter valued at about $29,000. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC increased its holdings in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after purchasing an additional 28 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the firm’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 transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

McKesson Stock Down 0.4 %

NYSE MCK opened at $592.69 on Monday. The company has a market capitalization of $75.24 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.26 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The stock has a fifty day simple moving average of $595.11 and a 200 day simple moving average of $561.17.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.23 earnings per share. Research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s payout ratio is currently 14.71%.

Analysts Set New Price Targets

Several research analysts recently commented on MCK shares. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $646.14.

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.