Vinva Investment Management Ltd Purchases 2,829 Shares of McKesson Co. (NYSE:MCK)

Vinva Investment Management Ltd lifted its position in shares of McKesson Co. (NYSE:MCK) by 80.6% in the 4th quarter, Holdings Channel reports. The fund owned 6,341 shares of the company’s stock after buying an additional 2,829 shares during the quarter. Vinva Investment Management Ltd’s holdings in McKesson were worth $3,619,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Stokes Family Office LLC bought a new position in McKesson in the 4th quarter worth about $228,000. Xponance Inc. boosted its stake in McKesson by 1.8% in the 4th quarter. Xponance Inc. now owns 29,592 shares of the company’s stock worth $16,865,000 after purchasing an additional 534 shares during the period. Boston Partners boosted its stake in McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. Generali Asset Management SPA SGR bought a new position in McKesson in the 4th quarter worth about $7,269,000. Finally, Evoke Wealth LLC boosted its stake in McKesson by 22.8% in the 4th quarter. Evoke Wealth LLC now owns 955 shares of the company’s stock worth $545,000 after purchasing an additional 177 shares during the period. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $649.36.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.4 %

MCK opened at $664.09 on Thursday. The stock’s fifty day moving average is $613.05 and its two-hundred day moving average is $573.00. The company has a market capitalization of $83.23 billion, a P/E ratio of 30.41, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $666.99.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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 paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s dividend payout ratio (DPR) is 13.00%.

McKesson Profile

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.