McKesson Co. (NYSE:MCK) Shares Sold by Vima LLC

Vima LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 471 shares of the company’s stock after selling 49 shares during the period. Vima LLC’s holdings in McKesson were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB purchased a new position in shares of McKesson during the first quarter worth $669,326,000. International Assets Investment Management LLC increased its holdings in McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares in the last quarter. Bessemer Group Inc. increased its holdings in McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after buying an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. purchased a new position in McKesson in the first quarter valued at $97,510,000. Finally, Assenagon Asset Management S.A. increased its holdings in McKesson by 581.0% in the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after buying an additional 129,031 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCK. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI lowered their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

Shares of MCK traded up $1.06 during midday trading on Monday, reaching $508.47. The stock had a trading volume of 116,751 shares, compared to its average volume of 799,958. The company’s fifty day simple moving average is $516.67 and its two-hundred day simple moving average is $551.19. The company has a market cap of $65.94 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $7.27 EPS. On average, sell-side analysts forecast that McKesson Co. will post 31.91 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is currently 12.70%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is 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.