McKesson Co. (NYSE:MCK) Shares Acquired by CX Institutional

CX Institutional boosted its stake in McKesson Co. (NYSE:MCK) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,914 shares of the company’s stock after purchasing an additional 2,686 shares during the period. CX Institutional’s holdings in McKesson were worth $7,360,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its position in McKesson by 5.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock worth $11,117,000 after acquiring an additional 998 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of McKesson by 76.1% during the second quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after purchasing an additional 2,064 shares during the period. Insigneo Advisory Services LLC lifted its position in shares of McKesson by 25.8% during the second quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock worth $493,000 after purchasing an additional 165 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. Finally, APG Asset Management US Inc. grew its holdings in McKesson by 2.1% during the 2nd quarter. APG Asset Management US Inc. now owns 63,727 shares of the company’s stock valued at $37,366,000 after purchasing an additional 1,310 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.2 %

Shares of NYSE:MCK opened at $595.82 on Friday. The firm has a 50-day simple moving average of $593.20 and a 200 day simple moving average of $561.23. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market cap of $75.63 billion, a PE ratio of 30.86, a P/E/G ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 EPS. As a group, research analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MCK shares. Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate 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.