McKesson Corporation $MCK Stake Raised by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in McKesson Corporation (NYSE:MCK) by 5.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 562,998 shares of the company’s stock after acquiring an additional 30,415 shares during the quarter. McKesson accounts for about 1.1% of Pacer Advisors Inc.’s portfolio, making the stock its 17th biggest holding. Pacer Advisors Inc. owned 0.45% of McKesson worth $434,938,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alpine Woods Capital Investors LLC lifted its stake in McKesson by 7.6% during the third quarter. Alpine Woods Capital Investors LLC now owns 635 shares of the company’s stock valued at $491,000 after purchasing an additional 45 shares during the last quarter. Norden Group LLC acquired a new position in McKesson in the third quarter worth approximately $235,000. World Investment Advisors increased its holdings in shares of McKesson by 4.3% in the third quarter. World Investment Advisors now owns 6,583 shares of the company’s stock valued at $5,086,000 after buying an additional 270 shares in the last quarter. Brookstone Capital Management lifted its position in shares of McKesson by 15.6% during the 3rd quarter. Brookstone Capital Management now owns 11,634 shares of the company’s stock valued at $8,988,000 after acquiring an additional 1,569 shares during the last quarter. Finally, Global X Japan Co. Ltd. lifted its position in shares of McKesson by 5,633.3% during the 3rd quarter. Global X Japan Co. Ltd. now owns 1,032 shares of the company’s stock valued at $797,000 after acquiring an additional 1,014 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Leerink Partners lifted their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Barclays assumed coverage on McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective on the stock. Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, TD Cowen lifted their target price on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

McKesson Trading Up 0.1%

Shares of NYSE MCK opened at $826.43 on Friday. McKesson Corporation has a one year low of $565.75 and a one year high of $895.58. The business has a 50-day moving average price of $829.82 and a two-hundred day moving average price of $754.60. The firm has a market capitalization of $102.01 billion, a PE ratio of 25.72, a PEG ratio of 1.36 and a beta of 0.38.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period in the prior year, the firm earned $7.07 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.