Generali Asset Management SPA SGR Reduces Stock Position in McKesson Corporation $MCK

Generali Asset Management SPA SGR lessened its position in McKesson Corporation (NYSE:MCK) by 43.5% during the third quarter, Holdings Channel.com reports. The fund owned 7,635 shares of the company’s stock after selling 5,883 shares during the period. Generali Asset Management SPA SGR’s holdings in McKesson were worth $5,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Vanguard Group Inc. grew its stake in shares of McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC lifted its holdings in McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after buying an additional 112,224 shares during the period. Alliancebernstein L.P. lifted its holdings in McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after buying an additional 1,362,386 shares during the period. Norges Bank bought a new stake in shares of McKesson in the 2nd quarter worth approximately $1,346,661,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of McKesson by 16.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,284,881 shares of the company’s stock valued at $864,712,000 after buying an additional 181,831 shares during the period. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on MCK. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Monday, December 22nd. Morgan Stanley upped their price objective on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Barclays started coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Finally, Evercore ISI restated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $892.86.

McKesson Price Performance

Shares of NYSE MCK opened at $823.28 on Friday. McKesson Corporation has a 1 year low of $568.23 and a 1 year high of $895.58. The firm has a 50-day moving average of $833.68 and a 200 day moving average of $759.06. The stock has a market cap of $101.62 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.35 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter last year, the firm earned $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio is currently 10.21%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by insiders.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.