UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $498 Million Stock Position in McKesson Co. (NYSE:MCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,007,244 shares of the company’s stock after selling 158,517 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in McKesson were worth $498,002,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in McKesson by 0.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,722 shares of the company’s stock valued at $28,044,000 after buying an additional 474 shares in the last quarter. FORA Capital LLC boosted its stake in McKesson by 109.9% in the third quarter. FORA Capital LLC now owns 16,299 shares of the company’s stock valued at $8,059,000 after buying an additional 8,534 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the third quarter valued at about $31,000. CreativeOne Wealth LLC boosted its stake in McKesson by 5.8% in the third quarter. CreativeOne Wealth LLC now owns 6,613 shares of the company’s stock valued at $3,270,000 after buying an additional 364 shares in the last quarter. Finally, BNP Paribas boosted its stake in McKesson by 252.1% in the third quarter. BNP Paribas now owns 46,107 shares of the company’s stock valued at $22,716,000 after buying an additional 33,012 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $626.38 on Friday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a market capitalization of $79.51 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The business has a 50-day moving average of $539.80 and a 200-day moving average of $559.39.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 32.78 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. Leerink Partners reduced their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho lifted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

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.