abrdn plc Has $99.84 Million Stake in McKesson Co. (NYSE:MCK)

abrdn plc decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 12.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 175,154 shares of the company’s stock after selling 23,865 shares during the period. abrdn plc’s holdings in McKesson were worth $99,844,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MCK shares. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $646.14.

McKesson Stock Up 1.0 %

Shares of MCK stock opened at $600.43 on Tuesday. The company’s fifty day simple moving average is $590.79 and its 200-day simple moving average is $561.94. The firm has a market cap of $76.22 billion, a PE ratio of 31.09, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.23 earnings per share. On average, equities analysts predict that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s payout ratio is 14.71%.

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.