Vontobel Holding Ltd. Has $22.86 Million Position in McKesson Corporation $MCK

Vontobel Holding Ltd. cut its stake in shares of McKesson Corporation (NYSE:MCK) by 24.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,588 shares of the company’s stock after selling 9,548 shares during the quarter. Vontobel Holding Ltd.’s holdings in McKesson were worth $22,858,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Monday. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Citigroup lifted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $892.86.

McKesson Stock Up 0.1%

MCK opened at $826.43 on Thursday. McKesson Corporation has a twelve month low of $565.75 and a twelve month high of $895.58. The company has a fifty day moving average of $828.80 and a 200-day moving average of $754.10. The stock has a market cap of $102.00 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS 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 for the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 10.21%.

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.