Generate Investment Management Ltd Trims Stock Holdings in McKesson Co. (NYSE:MCK)

Generate Investment Management Ltd cut its holdings in shares of McKesson Co. (NYSE:MCK) by 67.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,557 shares of the company’s stock after selling 37,833 shares during the period. Generate Investment Management Ltd’s holdings in McKesson were worth $10,576,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCK. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new stake in McKesson during the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust purchased a new position in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on MCK. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $645.79.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the business’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 completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.7 %

NYSE:MCK opened at $595.77 on Friday. The company has a market capitalization of $75.63 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a fifty day simple moving average of $589.05 and a 200-day simple moving average of $562.81.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. As a group, equities analysts anticipate that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.