International Assets Investment Management LLC Trims Stock Position in McKesson Co. (NYSE:MCK)

International Assets Investment Management LLC lessened its stake in McKesson Co. (NYSE:MCK) by 99.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531 shares of the company’s stock after selling 805,347 shares during the period. International Assets Investment Management LLC’s holdings in McKesson were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in MCK. FMR LLC grew its stake in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the period. Janus Henderson Group PLC grew 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 during the last quarter. Nordea Investment Management AB raised its position in McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.7 %

McKesson stock opened at $589.60 on Friday. The firm’s 50-day simple moving average is $591.44 and its 200 day simple moving average is $561.65. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The firm has a market capitalization of $74.84 billion, a PE ratio of 30.53, a P/E/G ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, research analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MCK shares. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Morgan Stanley increased their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Mizuho started coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.71.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

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.