McKesson Co. (NYSE:MCK) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd boosted its position in shares of McKesson Co. (NYSE:MCK) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,194 shares of the company’s stock after buying an additional 59 shares during the period. Gulf International Bank UK Ltd’s holdings in McKesson were worth $6,009,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new position in shares of McKesson in the fourth quarter valued at approximately $31,000. Carolinas Wealth Consulting LLC increased its holdings in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.0 %

Shares of NYSE:MCK opened at $603.08 on Friday. McKesson Co. has a 52-week low of $395.30 and a 52-week high of $606.32. The stock’s fifty day simple moving average is $558.51 and its 200-day simple moving average is $520.18. The company has a market capitalization of $78.39 billion, a P/E ratio of 26.95, a P/E/G ratio of 1.41 and a beta of 0.47.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the prior year, the company earned $7.19 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.41%. McKesson’s dividend payout ratio is currently 11.08%.

Insider Activity

In related news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the transaction, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maria Martinez sold 483 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $585.88, for a total value of $282,980.04. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Citigroup lifted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 18th. Wells Fargo & Company lifted their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a research note on Thursday, May 9th. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Argus lifted their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $571.47.

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.