Diversified Trust Co Lowers Stake in McKesson Co.

Diversified Trust Co has reduced its holdings in McKesson Co. (NYSE:MCK) by 17.1% during the fourth quarter, as revealed in its most recent 13F filing with the Securities and Exchange Commission (SEC). After selling 1,448 shares, the firm now owns a total of 7,015 shares in McKesson, making its position valued at approximately $3,998,000 at the end of the reporting period.

Institutional Investment Movements

Several other institutional investors have also modified their investments in McKesson. Notably, International Assets Investment Management LLC boosted its ownership significantly by 1,020.2% during the third quarter, bringing its total shares to 806,878, worth around $398,937,000 following the acquisition of 734,849 shares. FMR LLC also increased its stake by 17.3%, acquiring an additional 438,423 shares to own a total of 2,968,239 shares valued at about $1,467,557,000. Other firms such as The Manufacturers Life Insurance Company and Janus Henderson Group PLC also reported substantial increases in their McKesson holdings, showcasing strong institutional interest, which currently accounts for 85.07% of the stock ownership.

Insider Transactions

In related news, EVP Leann B. Smith sold 579 shares of McKesson on January 2nd, receiving an average price of $572.79 per share, totaling approximately $331,645. Following this transaction, Smith’s remaining shares are valued at about $494,890.56, reflecting a 40.12% decrease in their stock position. Currently, insiders own 0.11% of the company's stock.

Stock Performance

On Tuesday, McKesson’s stock saw a rise of 1.1%, climbing $6.53 to reach $586.96. The trading volume for the day reached 108,959 shares, lower than the average of 503,232. Over the past year, McKesson’s shares have fluctuated between a low of $464.42 and a high of $637.51, with a market capitalization of $74.51 billion, a price-to-earnings ratio of 30.40, and a beta of 0.49. The 50-day and 200-day simple moving averages for the stock stand at $586.13 and $561.38, respectively.

Quarterly Earnings Report

In its latest quarterly earnings report, McKesson exceeded analysts' expectations by posting earnings per share (EPS) of $7.07, surpassing consensus estimates of $6.88. The company reported revenues of $93.65 billion for the quarter, significantly higher than the predicted $89.33 billion, marking a 21.3% increase over the same quarter last year.

Dividend Information

McKesson declared a quarterly dividend of $0.71 per share, paid on January 2nd, to investors who were on record as of December 2nd. This translates to an annualized dividend of $2.84, with a yield of 0.48% and a payout ratio of 14.71%.

Analyst Outlook

McKesson has recently been featured in various analysts' reports, with Evercore ISI setting a new price target of $680.00, raising it from $560.00, while giving it an