Man Group plc Acquires 78,734 Shares of McKesson Co. (NYSE:MCK)

Man Group plc lifted its position in McKesson Co. (NYSE:MCK) by 44.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 256,741 shares of the company’s stock after acquiring an additional 78,734 shares during the quarter. McKesson comprises approximately 0.4% of Man Group plc’s portfolio, making the stock its 28th largest holding. Man Group plc’s holdings in McKesson were worth $146,319,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCK. Czech National Bank grew its stake in shares of McKesson by 4.2% in the 4th quarter. Czech National Bank now owns 27,524 shares of the company’s stock worth $15,686,000 after acquiring an additional 1,108 shares in the last quarter. Brookstone Capital Management grew its stake in shares of McKesson by 42.8% in the 4th quarter. Brookstone Capital Management now owns 10,473 shares of the company’s stock worth $5,969,000 after acquiring an additional 3,137 shares in the last quarter. Capital Investment Advisors LLC grew its stake in shares of McKesson by 29.0% in the 4th quarter. Capital Investment Advisors LLC now owns 2,379 shares of the company’s stock worth $1,356,000 after acquiring an additional 535 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of McKesson by 9.8% in the 4th quarter. Wedmont Private Capital now owns 2,003 shares of the company’s stock worth $1,165,000 after buying an additional 179 shares during the last quarter. Finally, Bar Harbor Wealth Management purchased a new position in shares of McKesson in the 4th quarter worth about $221,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Stock Up 0.1%

Shares of MCK opened at $687.93 on Wednesday. The business’s 50-day moving average price is $680.08 and its 200-day moving average price is $623.42. The stock has a market cap of $86.22 billion, a PE ratio of 31.50, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. McKesson’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $6.18 earnings per share. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.

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.