McKesson Co. (NYSE:MCK) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lowered its stake in McKesson Co. (NYSE:MCK) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,083 shares of the company’s stock after selling 3,098 shares during the quarter. USS Investment Management Ltd’s holdings in McKesson were worth $12,577,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Millstone Evans Group LLC acquired a new stake in shares of McKesson in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new position in McKesson during the 4th quarter valued at $33,000. Atala Financial Inc acquired a new position in shares of McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson in the 4th quarter worth $38,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 1.0%

Shares of McKesson stock opened at $719.07 on Wednesday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The stock has a market cap of $89.96 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business has a fifty day simple moving average of $686.37 and a 200-day simple moving average of $630.52.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson’s payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. UBS Group upped their price target on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $686.69.

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.