Janus Henderson Group PLC Increases Position in McKesson Co. (NYSE:MCK)

Janus Henderson Group PLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 6.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 612,448 shares of the company’s stock after acquiring an additional 38,008 shares during the period. Janus Henderson Group PLC owned 0.48% of McKesson worth $348,948,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. Atala Financial Inc purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.6%

McKesson stock opened at $694.12 on Monday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.48. The company’s 50 day moving average is $678.24 and its two-hundred day moving average is $621.72. The firm has a market cap of $86.99 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period in the prior year, the firm posted $6.18 EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s dividend payout ratio is presently 13.00%.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Cfra Research lowered shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Morgan Stanley upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $686.69.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,110 shares of company stock valued at $10,855,706. 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.