Royal London Asset Management Ltd. Raises Position in McKesson Co. (NYSE:MCK)

Royal London Asset Management Ltd. increased its holdings in McKesson Co. (NYSE:MCK) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 61,691 shares of the company’s stock after acquiring an additional 1,085 shares during the quarter. Royal London Asset Management Ltd.’s holdings in McKesson were worth $35,158,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter worth $32,000. Crews Bank & Trust bought a new stake in McKesson in the 4th quarter worth $33,000. Atala Financial Inc bought a new stake in McKesson in the 4th quarter worth $34,000. RPg Family Wealth Advisory LLC bought a new stake in McKesson in the 3rd quarter worth $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $666.46 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $670.00. The company’s 50-day simple moving average is $614.59 and its 200 day simple moving average is $573.65. The firm has a market capitalization of $83.52 billion, a P/E ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America cut their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $649.36.

About McKesson

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.