McKesson Corporation $MCK Shares Acquired by CenterBook Partners LP

CenterBook Partners LP increased its stake in shares of McKesson Corporation (NYSE:MCK) by 93.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,427 shares of the company’s stock after purchasing an additional 690 shares during the quarter. CenterBook Partners LP’s holdings in McKesson were worth $1,218,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in McKesson in the 2nd quarter valued at approximately $8,156,743,000. Bank of America Corp DE purchased a new stake in McKesson in the 2nd quarter worth approximately $998,896,000. Legal & General Group Plc acquired a new stake in shares of McKesson during the 2nd quarter valued at $656,566,000. The Manufacturers Life Insurance Company purchased a new position in shares of McKesson during the 2nd quarter valued at $651,462,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of McKesson during the 2nd quarter valued at $599,060,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Down 0.1%

MCK stock opened at $1,059.43 on Tuesday. The company has a market capitalization of $123.52 billion, a price-to-earnings ratio of 25.08, a P/E/G ratio of 2.13 and a beta of 0.27. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,121.50. The firm has a 50 day moving average of $941.40 and a two-hundred day moving average of $869.30.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. The business had revenue of $110.96 billion for the quarter, compared to the consensus estimate of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. McKesson’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $9.86 EPS. On average, research analysts expect that McKesson Corporation will post 46.21 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 9.67%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO B Jr sold 111 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,161 shares of company stock worth $2,242,515 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MCK shares. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research note on Thursday, August 6th. Mizuho lifted their price objective on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research report on Tuesday, October 20th. Royal Bank Of Canada boosted their target price on McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Barclays upped their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Morgan Stanley set a $977.00 price target on McKesson in a research note on Tuesday, October 6th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $1,026.18.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.