Railway Pension Investments Ltd Reduces Position in McKesson Corporation $MCK

Railway Pension Investments Ltd lessened its stake in McKesson Corporation (NYSE:MCK) by 8.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,122 shares of the company’s stock after selling 11,800 shares during the quarter. McKesson comprises about 1.3% of Railway Pension Investments Ltd’s holdings, making the stock its 21st largest holding. Railway Pension Investments Ltd owned 0.10% of McKesson worth $92,420,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of McKesson during the 2nd quarter worth $1,346,661,000. Nuveen LLC acquired a new stake in McKesson during the 1st quarter worth approximately $475,235,000. Wellington Management Group LLP boosted its holdings in McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after purchasing an additional 418,524 shares during the period. Boston Partners grew its stake in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after purchasing an additional 365,484 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in McKesson by 92.3% during the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCK shares. Morgan Stanley lifted their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Bank of America boosted their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Cowen restated a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Mizuho upped their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $887.69.

Insider Buying and Selling at McKesson

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

McKesson Trading Down 0.5%

NYSE:MCK opened at $879.00 on Friday. The company has a market capitalization of $108.49 billion, a P/E ratio of 35.05, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The firm has a 50-day moving average price of $807.11 and a two-hundred day moving average price of $741.23. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period in the prior year, the business earned $7.07 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued 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 is Monday, December 1st. McKesson’s payout ratio is 10.21%.

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.