Geode Capital Management LLC Has $2.06 Billion Stock Holdings in McKesson Corporation $MCK

Geode Capital Management LLC lifted its position in McKesson Corporation (NYSE:MCK) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,820,724 shares of the company’s stock after purchasing an additional 112,224 shares during the quarter. Geode Capital Management LLC owned 2.25% of McKesson worth $2,057,065,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCK. Solstein Capital LLC raised its stake in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. GFG Capital LLC acquired a new stake in McKesson during the 2nd quarter valued at $30,000. CBIZ Investment Advisory Services LLC raised its position in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Bank of Jackson Hole Trust raised its position in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after purchasing an additional 18 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in McKesson in the first quarter worth $34,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $841.01 on Thursday. The stock has a market cap of $103.80 billion, a price-to-earnings ratio of 33.53, a P/E/G ratio of 1.46 and a beta of 0.51. The company has a 50 day moving average of $767.30 and a 200-day moving average of $727.61. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm earned $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.21%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Bank of America raised their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. Citigroup boosted their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Morgan Stanley upped their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Robert W. Baird raised their price target on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold 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 $887.69.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 24,189 shares of company stock valued at $16,787,319 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

McKesson Profile

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.