Janus Henderson Group PLC Raises Stake in McKesson Co. (NYSE:MCK)

Janus Henderson Group PLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 6.6% during the 4th quarter, HoldingsChannel reports. The firm owned 612,448 shares of the company’s stock after purchasing an additional 38,008 shares during the period. Janus Henderson Group PLC’s holdings in McKesson were worth $348,948,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cibc World Market Inc. grew its position in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson in the 4th quarter worth $3,018,000. Ingalls & Snyder LLC lifted its stake in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after acquiring an additional 1,047 shares during the period. Czech National Bank lifted its stake in shares of McKesson by 4.2% in the 4th quarter. Czech National Bank now owns 27,524 shares of the company’s stock worth $15,686,000 after acquiring an additional 1,108 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its stake in shares of McKesson by 85.0% in the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company’s stock worth $745,000 after acquiring an additional 580 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company raised their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.6%

Shares of MCK opened at $694.12 on Monday. The stock has a market cap of $86.99 billion, a P/E ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53. The company has a 50-day moving average of $678.24 and a two-hundred day moving average of $621.72. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.48.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.18 earnings per share. As a group, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is currently 13.00%.

McKesson Company 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.