Schroder Investment Management Group Sells 17,497 Shares of McKesson Co. (NYSE:MCK)

Schroder Investment Management Group reduced its position in shares of McKesson Co. (NYSE:MCK) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,863 shares of the company’s stock after selling 17,497 shares during the quarter. Schroder Investment Management Group owned about 0.07% of McKesson worth $47,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of McKesson in the 4th quarter worth $1,200,361,000. Janus Henderson Group PLC increased its position in shares of McKesson by 126.8% during the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of McKesson in the 4th quarter worth about $178,397,000. Raymond James Financial Inc. bought a new position in shares of McKesson in the fourth quarter valued at approximately $128,125,000. Finally, Boston Partners lifted its stake in McKesson by 24.6% during the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after acquiring an additional 216,432 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price target on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Bank of America cut their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by company insiders.

McKesson Price Performance

McKesson stock opened at $673.44 on Tuesday. McKesson Co. has a one year low of $464.42 and a one year high of $678.67. The firm has a market capitalization of $84.40 billion, a P/E ratio of 30.84, a PEG ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average price of $625.19 and a 200-day moving average price of $580.97.

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

McKesson Dividend Announcement

The company 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. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

About McKesson

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.