Schroder Investment Management Group Has $52.09 Million Holdings in McKesson Co. (NYSE:MCK)

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Schroder Investment Management Group cut its stake in McKesson Co. (NYSE:MCK) by 25.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,559 shares of the company’s stock after selling 130,485 shares during the quarter. Schroder Investment Management Group owned approximately 0.19% of McKesson worth $52,087,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. MAI Capital Management boosted its stake in shares of McKesson by 15.7% in the 2nd quarter. MAI Capital Management now owns 4,095 shares of the company’s stock valued at $546,000 after purchasing an additional 555 shares in the last quarter. Arbor Wealth Management LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $1,597,000. Verition Fund Management LLC raised its holdings in McKesson by 731.1% in the 2nd quarter. Verition Fund Management LLC now owns 25,167 shares of the company’s stock valued at $3,357,000 after buying an additional 22,139 shares during the last quarter. NorthCoast Asset Management LLC bought a new position in McKesson in the 2nd quarter valued at approximately $562,000. Finally, California Public Employees Retirement System raised its holdings in McKesson by 3.8% in the 2nd quarter. California Public Employees Retirement System now owns 597,320 shares of the company’s stock valued at $79,682,000 after buying an additional 22,140 shares during the last quarter. Institutional investors and hedge funds own 88.32% of the company’s stock.

A number of research analysts recently issued reports on MCK shares. Standpoint Research upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Royal Bank of Canada reiterated a “hold” rating and issued a $152.00 price objective on shares of McKesson in a report on Friday, July 27th. Morgan Stanley dropped their price objective on shares of McKesson from $175.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, July 3rd. JPMorgan Chase & Co. dropped their price objective on shares of McKesson from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, July 27th. Finally, Mizuho reiterated a “hold” rating and issued a $133.00 price objective on shares of McKesson in a report on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $151.99.

McKesson stock traded up $1.55 during mid-day trading on Friday, hitting $130.79. 1,277,100 shares of the stock were exchanged, compared to its average volume of 1,699,104. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.57 and a current ratio of 1.00. McKesson Co. has a 12 month low of $122.49 and a 12 month high of $178.86. The firm has a market cap of $26.50 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.42 and a beta of 1.23.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, July 26th. The company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.01. McKesson had a negative net margin of 0.18% and a positive return on equity of 25.19%. The firm had revenue of $52.61 billion during the quarter, compared to analyst estimates of $52.91 billion. During the same quarter last year, the business earned $2.47 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts predict that McKesson Co. will post 13.31 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.39 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.56 annualized dividend and a yield of 1.19%. McKesson’s dividend payout ratio (DPR) is presently 12.36%.

In other news, Director N Anthony Coles sold 1,350 shares of McKesson stock in a transaction on Friday, August 31st. The shares were sold at an average price of $128.69, for a total value of $173,731.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by company insiders.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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