UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in McKesson Co. (NYSE:MCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,103,050 shares of the company’s stock after acquiring an additional 95,806 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.87% of McKesson worth $628,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of MCK. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson during the fourth quarter worth $348,044,000. Marshall Wace LLP grew its stake in shares of McKesson by 59,720.3% during the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock worth $204,553,000 after purchasing an additional 358,322 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the fourth quarter worth $182,861,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of McKesson during the fourth quarter worth $178,397,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 2nd. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $719.07 on Wednesday. The company has a 50-day simple moving average of $686.37 and a 200-day simple moving average of $630.52. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The stock has a market capitalization of $89.96 billion, a price-to-earnings ratio of 32.92, a PEG ratio of 1.29 and a beta of 0.53.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s payout ratio is 10.99%.

McKesson 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.