UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 158,517 Shares of McKesson Co. (NYSE:MCK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in McKesson Co. (NYSE:MCK) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,007,244 shares of the company’s stock after selling 158,517 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.79% of McKesson worth $498,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares during the period. FMR LLC grew its position in shares of McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the period. Legal & General Group Plc grew its position in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.2 %

MCK opened at $626.38 on Friday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock’s fifty day simple moving average is $539.80 and its 200 day simple moving average is $559.39. The stock has a market cap of $79.51 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.23 EPS. Equities analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCK. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Evercore ISI upped their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $631.57.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

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.