McKesson Co. (NYSE:MCK) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 30.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,957 shares of the company’s stock after buying an additional 19,330 shares during the quarter. Van ECK Associates Corp owned 0.06% of McKesson worth $41,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Legal & General Group Plc grew its position in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares in the last quarter. Swedbank AB purchased a new stake in shares of McKesson during the first quarter worth approximately $669,326,000. Boston Partners increased its stake in shares of McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares during the period. Finally, AQR Capital Management LLC raised its holdings in 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 acquiring an additional 62,875 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCK shares. Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Barclays raised their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Performance

NYSE MCK opened at $526.34 on Monday. The firm’s fifty day moving average is $512.00 and its two-hundred day moving average is $550.57. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $68.26 billion, a PE ratio of 23.54, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.54%. McKesson’s payout ratio is currently 12.70%.

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.