Railway Pension Investments Ltd Lowers Stock Holdings in McKesson Corporation $MCK

Railway Pension Investments Ltd lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 8.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,122 shares of the company’s stock after selling 11,800 shares during the quarter. McKesson makes up about 1.3% of Railway Pension Investments Ltd’s investment portfolio, making the stock its 21st biggest position. Railway Pension Investments Ltd’s holdings in McKesson were worth $92,420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB lifted its position in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares during the period. Cardinal Point Capital Management ULC increased its stake in shares of McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares during the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of McKesson by 3.7% during the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after acquiring an additional 15 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of McKesson by 1.4% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after acquiring an additional 16 shares during the period. Finally, Valmark Advisers Inc. boosted its position in shares of McKesson by 2.1% in the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Wells Fargo & Company boosted their price objective on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. UBS Group increased their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Citigroup boosted their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Down 0.5%

MCK opened at $879.00 on Friday. The firm’s 50 day moving average is $807.11 and its 200-day moving average is $741.23. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The firm has a market capitalization of $108.49 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.46 and a beta of 0.51.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by 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.