River & Mercantile Asset Management LLP Boosts Position in McKesson Co. (NYSE:MCK)

River & Mercantile Asset Management LLP grew its holdings in shares of McKesson Co. (NYSE:MCK) by 3.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 551,337 shares of the company’s stock after purchasing an additional 17,700 shares during the quarter. McKesson accounts for approximately 3.5% of River & Mercantile Asset Management LLP’s investment portfolio, making the stock its 3rd biggest holding. River & Mercantile Asset Management LLP’s holdings in McKesson were worth $74,069,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Flinton Capital Management LLC raised its position in shares of McKesson by 37.6% during the second quarter. Flinton Capital Management LLC now owns 14,926 shares of the company’s stock worth $2,006,000 after purchasing an additional 4,080 shares during the period. Cerebellum GP LLC acquired a new position in shares of McKesson during the first quarter worth approximately $318,000. Commonwealth Equity Services LLC raised its position in shares of McKesson by 1.0% during the second quarter. Commonwealth Equity Services LLC now owns 46,991 shares of the company’s stock worth $6,315,000 after purchasing an additional 472 shares during the period. Busey Wealth Management raised its position in shares of McKesson by 7.1% during the second quarter. Busey Wealth Management now owns 26,511 shares of the company’s stock worth $3,562,000 after purchasing an additional 1,768 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of McKesson by 39.0% during the second quarter. Parallel Advisors LLC now owns 912 shares of the company’s stock worth $122,000 after purchasing an additional 256 shares during the period. 86.62% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on MCK. Guggenheim began coverage on McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $152.00 target price on the stock. Morgan Stanley upped their target price on McKesson from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. Deutsche Bank began coverage on McKesson in a research report on Thursday, September 12th. They set a “hold” rating and a $155.00 target price on the stock. JPMorgan Chase & Co. began coverage on McKesson in a research report on Monday, July 22nd. They set an “overweight” rating and a $164.00 target price on the stock. Finally, Cleveland Research reaffirmed a “hold” rating on shares of McKesson in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. McKesson has a consensus rating of “Hold” and a consensus price target of $147.20.



In related news, SVP Sundeep G. Reddy sold 422 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the sale, the senior vice president now directly owns 1,268 shares of the company’s stock, valued at approximately $182,325.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director M Christine Jacobs sold 1,296 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $146.65, for a total value of $190,058.40. The disclosure for this sale can be found here. Insiders sold a total of 4,218 shares of company stock valued at $611,738 over the last three months. 0.88% of the stock is currently owned by insiders.

NYSE MCK traded up $1.99 on Wednesday, reaching $142.30. The company had a trading volume of 1,700,942 shares, compared to its average volume of 1,507,753. The stock has a market capitalization of $27.15 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.48 and a beta of 1.13. The company’s fifty day moving average is $142.96 and its 200 day moving average is $131.18. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $150.82. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.27. The business had revenue of $55.73 billion during the quarter, compared to analyst estimates of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. McKesson’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.90 EPS. On average, research analysts expect that McKesson Co. will post 14.39 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.41 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio is presently 12.09%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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