Unigestion Holding SA Decreases Holdings in McKesson Co. (NYSE:MCK)

Unigestion Holding SA cut its holdings in shares of McKesson Co. (NYSE:MCK) by 52.6% in the 1st quarter, HoldingsChannel reports. The firm owned 7,000 shares of the company’s stock after selling 7,773 shares during the quarter. Unigestion Holding SA’s holdings in McKesson were worth $4,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in McKesson in the 4th quarter worth about $26,000. Millstone Evans Group LLC purchased a new stake in McKesson in the 4th quarter worth about $28,000. Atala Financial Inc purchased a new stake in McKesson in the 4th quarter worth about $34,000. Graney & King LLC purchased a new stake in McKesson in the 4th quarter worth about $38,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson in the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MCK shares. Morgan Stanley lifted their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Mizuho lifted their price objective on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Trading Up 0.2%

Shares of MCK opened at $721.27 on Tuesday. The company has a market cap of $90.24 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The stock has a 50-day moving average price of $696.36 and a 200-day moving average price of $638.76. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $6.18 EPS. As a group, analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 510 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $366,134.10. Following the transaction, the executive vice president now directly owns 5,435 shares of the company’s stock, valued at approximately $3,901,840.85. This trade represents a 8.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the transaction, the chief financial officer now directly owns 14,760 shares in the company, valued at approximately $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,747 shares of company stock worth $9,852,587. 0.11% 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.