Gulf International Bank UK Ltd Trims Holdings in McKesson Co. (NYSE:MCK)

Gulf International Bank UK Ltd cut its holdings in shares of McKesson Co. (NYSE:MCK) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,596 shares of the company’s stock after selling 98 shares during the period. Gulf International Bank UK Ltd’s holdings in McKesson were worth $6,038,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MCK. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the third quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the fourth quarter worth approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

MCK stock opened at $624.53 on Thursday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The stock has a market cap of $78.27 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The company has a fifty day moving average price of $592.07 and a two-hundred day moving average price of $563.06.

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

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock valued at $11,536,378 over the last ninety days. 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.