Gulf International Bank UK Ltd Acquires 59 Shares of McKesson Co. (NYSE:MCK)

Gulf International Bank UK Ltd boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,194 shares of the company’s stock after purchasing an additional 59 shares during the period. Gulf International Bank UK Ltd’s holdings in McKesson were worth $6,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Norges Bank bought a new stake in McKesson during the fourth quarter worth $1,024,140,000. International Assets Investment Management LLC lifted its stake in McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the last quarter. TD Asset Management Inc lifted its stake in McKesson by 202.8% during the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after purchasing an additional 403,312 shares during the last quarter. Morgan Stanley lifted its stake in McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in McKesson by 92.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock worth $246,969,000 after purchasing an additional 272,266 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, Director Maria Martinez sold 483 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the transaction, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,814 shares of company stock valued at $14,511,649. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Wells Fargo & Company upped their price target on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Citigroup upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Finally, TD Cowen upped their price target on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Price Performance

Shares of MCK opened at $603.08 on Friday. McKesson Co. has a one year low of $395.30 and a one year high of $606.32. The company has a market cap of $78.39 billion, a PE ratio of 26.95, a P/E/G ratio of 1.41 and a beta of 0.47. The stock has a 50-day moving average of $558.51 and a 200-day moving average of $520.18.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $7.19 earnings per share. Analysts expect that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio is currently 11.08%.

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.