McKesson Corporation (NYSE:MCK) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 308,235 shares of the company’s stock after purchasing an additional 23,096 shares during the quarter. Russell Investments Group Ltd.’s holdings in McKesson were worth $207,362,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MCK. GAMMA Investing LLC raised its position in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the last quarter. Nuveen LLC purchased a new stake in McKesson in the 1st quarter worth $475,235,000. Farallon Capital Management LLC acquired a new stake in McKesson during the 4th quarter worth $348,044,000. Marshall Wace LLP boosted its position in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Finally, Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $182,861,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Britt J. Vitalone sold 1,878 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the sale, the chief financial officer owned 14,028 shares in the company, valued at $10,070,841.48. This represents a 11.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 341 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president owned 2,800 shares of the company’s stock, valued at $2,010,148. This trade represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,817 shares of company stock valued at $37,461,210. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an “equal weight” rating in a report on Tuesday, June 3rd. Morgan Stanley restated an “overweight” rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wall Street Zen lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 13th. Finally, Bank of America boosted their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $718.73.

McKesson Stock Performance

MCK stock opened at $673.74 on Tuesday. The company’s 50 day moving average price is $713.17 and its 200 day moving average price is $680.90. The firm has a market capitalization of $83.80 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 1.32 and a beta of 0.50. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the company earned $7.88 earnings per share. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. McKesson’s dividend payout ratio is currently 11.32%.

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.