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

Generate Investment Management Ltd reduced its holdings in McKesson Co. (NYSE:MCK) by 67.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,557 shares of the company’s stock after selling 37,833 shares during the quarter. Generate Investment Management Ltd’s holdings in McKesson were worth $10,576,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the last quarter. FMR LLC grew its stake in shares of McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after buying an additional 438,423 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after buying an additional 321,119 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after acquiring an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $595.77 on Friday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business has a 50-day moving average of $589.05 and a 200-day moving average of $562.81. The company has a market capitalization of $75.63 billion, a PE ratio of 30.85, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. On average, equities analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America dropped their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $645.79.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by insiders.

McKesson 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.