Yousif Capital Management LLC Cuts Stake in McKesson Co. (NYSE:MCK)

Yousif Capital Management LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,434 shares of the company’s stock after selling 48 shares during the period. Yousif Capital Management LLC’s holdings in McKesson were worth $13,752,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its stake in McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC boosted its position in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after buying an additional 10,015 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after buying an additional 114,396 shares during the last quarter. GAMMA Investing LLC boosted its position in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Finally, Norges Bank purchased a new stake in McKesson in the 4th quarter worth approximately $1,200,361,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,370 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares in the company, valued at $36,173,970.99. This trade represents a 27.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at $1,432,677.72. This trade represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,117 shares of company stock worth $23,526,451 in the last three months. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MCK shares. UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research report on Tuesday, April 29th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Wall Street Zen upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. Finally, Morgan Stanley increased their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $692.46.

McKesson Trading Down 0.4%

NYSE MCK opened at $705.18 on Wednesday. The stock has a market cap of $88.23 billion, a PE ratio of 32.29, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The stock has a fifty day simple moving average of $699.73 and a 200-day simple moving average of $642.37.

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

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, June 2nd. McKesson’s dividend payout ratio (DPR) is 10.99%.

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.