McKesson Co. (NYSE:MCK) Shares Acquired by M&G Plc

M&G Plc boosted its holdings in McKesson Co. (NYSE:MCK) by 54.4% during the third quarter, Holdings Channel.com reports. The fund owned 29,647 shares of the company’s stock after acquiring an additional 10,446 shares during the period. M&G Plc’s holdings in McKesson were worth $14,646,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new position in shares of McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter worth $40,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of McKesson in the second quarter valued at $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson during the second quarter valued at $53,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MCK. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Citigroup decreased their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, Barclays increased their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $625.64.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $607.51 on Friday. The stock has a 50-day simple moving average of $510.96 and a 200-day simple moving average of $550.61. The stock has a market capitalization of $78.78 billion, a P/E ratio of 27.17, a PEG ratio of 1.23 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.89 by $0.18. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts predict that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Announces Dividend

The business 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is presently 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.