McKesson Corporation $MCK Stock: Eurizon Capital SGR S.p.A. Lowers Stake

Eurizon Capital SGR S.p.A. decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,973 shares of the company’s stock after selling 4,635 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in McKesson were worth $27,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCK. BlackRock Inc. bought a new position in McKesson in the 2nd quarter worth approximately $8,156,743,000. Bank of America Corp DE increased its holdings in shares of McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of McKesson by 3.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares in the last quarter. Legal & General Group Plc acquired a new stake in McKesson in the second quarter worth about $656,566,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in McKesson in the second quarter worth about $651,462,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 2.4%

NYSE:MCK opened at $1,103.31 on Friday. The firm has a market capitalization of $127.39 billion, a PE ratio of 28.37, a PEG ratio of 1.82 and a beta of 0.27. The firm’s fifty day simple moving average is $955.45 and its 200 day simple moving average is $874.53. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,121.50.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The firm had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same period in the prior year, the firm earned $9.86 EPS. The business’s revenue was up 7.5% on a year-over-year basis. As a group, analysts anticipate that McKesson Corporation will post 46.16 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 9.67%.

Insiders Place Their Bets

In related news, CAO B Jr sold 111 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This trade represents a 12.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,161 shares of company stock worth $2,242,515. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MCK shares. Argus boosted their price objective on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, October 17th. Bank of America lifted their price objective on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research note on Thursday, August 6th. Finally, Citigroup lifted their price target on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,040.29.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.