Neuberger Berman Group LLC Has $26.11 Million Position in McKesson Co. (NYSE:MCK)

Neuberger Berman Group LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,340 shares of the company’s stock after selling 4,945 shares during the quarter. Neuberger Berman Group LLC’s holdings in McKesson were worth $26,113,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Live Oak Investment Partners bought a new position in shares of McKesson during the 4th quarter valued at about $30,000. Covestor Ltd lifted its holdings in shares of McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Carmel Capital Partners LLC bought a new position in shares of McKesson during the 1st quarter valued at about $30,000. Machina Capital S.A.S. bought a new position in shares of McKesson during the 1st quarter valued at about $33,000. Finally, Ahrens Investment Partners LLC bought a new position in shares of McKesson during the 1st quarter valued at about $36,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,471 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $420.00, for a total value of $1,457,820.00. Following the transaction, the chief executive officer now directly owns 129,714 shares of the company’s stock, valued at approximately $54,479,880. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,471 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $420.00, for a total value of $1,457,820.00. Following the transaction, the chief executive officer now directly owns 129,714 shares of the company’s stock, valued at approximately $54,479,880. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian S. Tyler sold 3,938 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $422.60, for a total value of $1,664,198.80. Following the completion of the transaction, the chief executive officer now directly owns 121,838 shares in the company, valued at $51,488,738.80. The disclosure for this sale can be found here. Insiders have sold a total of 22,227 shares of company stock valued at $9,290,486 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

McKesson Stock Up 1.8 %

NYSE:MCK opened at $418.62 on Friday. The firm has a market capitalization of $56.47 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.60. McKesson Co. has a twelve month low of $331.75 and a twelve month high of $441.00. The stock’s 50 day moving average price is $417.94 and its two-hundred day moving average price is $388.17.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 2nd. The company reported $7.27 earnings per share for the quarter, topping analysts’ consensus estimates of $5.85 by $1.42. The business had revenue of $74.48 billion for the quarter, compared to analyst estimates of $70.28 billion. McKesson had a negative return on equity of 252.54% and a net margin of 1.32%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.83 EPS. As a group, analysts anticipate that McKesson Co. will post 27.17 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.59%. This is a positive change from McKesson’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, August 31st. McKesson’s dividend payout ratio is currently 9.25%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Mizuho lifted their price objective on McKesson from $390.00 to $427.00 in a report on Tuesday, July 11th. Bank of America boosted their target price on McKesson from $470.00 to $485.00 in a research note on Monday, July 17th. StockNews.com began coverage on McKesson in a research note on Thursday, August 17th. They issued a “strong-buy” rating on the stock. Credit Suisse Group boosted their target price on McKesson from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, August 11th. Finally, Morgan Stanley boosted their target price on McKesson from $426.00 to $459.00 and gave the company an “overweight” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $452.33.

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.