McKesson Co. (NYSE:MCK) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd decreased its holdings in McKesson Co. (NYSE:MCK) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 10,596 shares of the company’s stock after selling 98 shares during the period. Gulf International Bank UK Ltd’s holdings in McKesson were worth $6,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the third quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the fourth quarter worth $44,000. Hedge funds and other 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 stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,268 shares of company stock worth $11,536,378. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $624.53 on Thursday. The company has a market cap of $78.27 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $592.07 and its two-hundred day simple moving average is $563.06. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MCK shares. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company lifted their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.79.

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.