Diversified Trust Co Has $4 Million Stock Position in McKesson Co. (NYSE:MCK)

Diversified Trust Co cut its position in McKesson Co. (NYSE:MCKFree Report) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,015 shares of the company’s stock after selling 1,448 shares during the period. Diversified Trust Co’s holdings in McKesson were worth $3,998,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MCK. International Assets Investment Management LLC increased its holdings in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares in the last quarter. FMR LLC increased its stake in 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 purchasing an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% during the third 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 lifted its stake in shares of McKesson by 126.8% in the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after buying an additional 321,119 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is currently owned by insiders.

McKesson Stock Up 1.1 %

MCK traded up $6.53 on Tuesday, hitting $586.96. The company’s stock had a trading volume of 108,959 shares, compared to its average volume of 503,232. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market cap of $74.51 billion, a P/E ratio of 30.40, a price-to-earnings-growth ratio of 1.25 and a beta of 0.49. The company’s 50 day simple moving average is $586.13 and its 200-day simple moving average is $561.38.

McKesson (NYSE:MCKGet Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the company posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Evercore ISI raised their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Citigroup increased their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $648.71.

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About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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