McKesson Corporation $MCK Stock: Russell Investments Group Ltd. Boosts Position

Russell Investments Group Ltd. grew its holdings in McKesson Corporation (NYSE:MCK) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 243,247 shares of the company’s stock after buying an additional 17,418 shares during the period. Russell Investments Group Ltd.’s holdings in McKesson were worth $207,753,000 at the end of the most recent quarter.

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

Insider Activity at McKesson

In related news, EVP Francisco Fraga sold 650 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the sale, the executive vice president directly owned 4,414 shares of the company’s stock, valued at $4,868,465.44. This represents a 12.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. This trade represents a 17.56% 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. Over the last ninety days, insiders have sold 2,161 shares of company stock worth $2,242,515. 0.06% of the stock is owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $1,076.26 on Friday. The stock has a market capitalization of $124.27 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27. The business has a 50-day moving average of $951.81 and a 200 day moving average of $873.19. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,121.50.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. The company had revenue of $110.96 billion for the quarter, compared to analyst estimates of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.86 earnings per share. Equities research analysts anticipate that McKesson Corporation will post 46.16 earnings per share for the current 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 dividend yield of 0.3%. McKesson’s payout ratio is 9.67%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Argus lifted their price target on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Mizuho upped their price objective on shares of McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Morgan Stanley set a $977.00 price objective on shares of McKesson in a research report on Tuesday, October 6th. Leerink Partners lifted their target price on shares of McKesson from $1,070.00 to $1,200.00 and gave the company an “outperform” rating in a report on Thursday, November 5th. Finally, Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,040.29.

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.