Royal London Asset Management Ltd. reduced its stake in shares of McKesson Co. (NYSE:MCK) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,875 shares of the company’s stock after selling 738 shares during the quarter. Royal London Asset Management Ltd.’s holdings in McKesson were worth $10,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alpha Quant Advisors LLC grew its position in shares of McKesson by 0.7% in the first quarter. Alpha Quant Advisors LLC now owns 10,818 shares of the company’s stock valued at $1,270,000 after purchasing an additional 78 shares during the last quarter. Poehling Capital Management LLC grew its position in shares of McKesson by 1.3% in the first quarter. Poehling Capital Management LLC now owns 6,162 shares of the company’s stock valued at $721,000 after purchasing an additional 80 shares during the last quarter. Adirondack Trust Co. grew its position in shares of McKesson by 22.4% in the first quarter. Adirondack Trust Co. now owns 480 shares of the company’s stock valued at $57,000 after purchasing an additional 88 shares during the last quarter. Asset Dedication LLC grew its position in shares of McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC grew its position in shares of McKesson by 8.1% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,214 shares of the company’s stock valued at $142,000 after purchasing an additional 91 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Shares of MCK traded down $1.24 on Wednesday, hitting $145.07. 9,837 shares of the stock traded hands, compared to its average volume of 1,491,337. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14. The stock has a market cap of $25.92 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 1.42 and a beta of 1.13. The firm has a 50 day moving average price of $140.07. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $149.99.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.27. The business had revenue of $55.73 billion for the quarter, compared to the consensus estimate of $54.03 billion. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.90 earnings per share. On average, sell-side analysts expect that McKesson Co. will post 14.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.41 per share. This is an increase from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 1.13%. McKesson’s dividend payout ratio is presently 11.50%.

MCK has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on shares of McKesson in a research report on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price target on the stock. Zacks Investment Research lowered shares of McKesson from a “hold” rating to a “sell” rating in a research report on Thursday, May 2nd. Credit Suisse Group assumed coverage on shares of McKesson in a research report on Monday, July 22nd. They issued a “neutral” rating and a $143.00 price target on the stock. Guggenheim assumed coverage on shares of McKesson in a research note on Monday, July 22nd. They set a “neutral” rating and a $152.00 price objective on the stock. Finally, Wolfe Research downgraded shares of McKesson from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $148.70.

In other McKesson news, CFO Britt J. Vitalone sold 1,088 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $129.48, for a total transaction of $140,874.24. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director M Christine Jacobs sold 1,296 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $146.65, for a total transaction of $190,058.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,704 shares of company stock worth $625,131. 0.88% of the stock is currently owned by insiders.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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