Vinva Investment Management Ltd Buys 2,829 Shares of McKesson Co. (NYSE:MCK)

Vinva Investment Management Ltd increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,341 shares of the company's stock after buying an additional 2,829 shares during the quarter. Vinva Investment Management Ltd's holdings in McKesson were worth $3,619,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC grew its holdings in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares in the last quarter. Old North State Trust LLC lifted its stake in McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after acquiring an additional 18 shares in the last quarter. Trust Co. of Vermont boosted its holdings in McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Hemington Wealth Management grew its stake in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction on 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 in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

NYSE MCK traded up $0.39 during trading on Monday, hitting $661.56. 775,431 shares of the company's stock traded hands, compared to its average volume of 800,762. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. The business has a 50 day moving average of $616.14 and a 200-day moving average of $574.35. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $673.23.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently weighed in 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 began coverage on McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price on the stock. Evercore ISI increased their price target on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average price target of $649.36.

McKesson Company 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.