International Assets Investment Management LLC Has $33.16 Million Stock Holdings in McKesson Co. (NYSE:MCK)

International Assets Investment Management LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 71,623 shares of the company’s stock after selling 135 shares during the period. International Assets Investment Management LLC’s holdings in McKesson were worth $33,160,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MCK. Legacy Financial Group LLC purchased a new stake in shares of McKesson in the third quarter worth approximately $27,000. OFI Invest Asset Management purchased a new stake in McKesson in the 3rd quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new stake in shares of McKesson during the 4th quarter valued at $31,000. WASHINGTON TRUST Co grew its holdings in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares in the last quarter. Finally, Milestone Investment Advisors LLC acquired a new position in shares of McKesson in the third quarter worth $61,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MCK. UBS Group lifted their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Citigroup boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a report on Saturday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $536.71.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $528.85 on Friday. The stock’s 50-day moving average is $530.13 and its 200-day moving average is $491.57. The company has a market cap of $69.50 billion, a P/E ratio of 23.96, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period in the previous year, the business posted $6.90 EPS. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

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.