McKesson Corporation $MCK Shares Bought by Magnetar Financial LLC

Magnetar Financial LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 184.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,591 shares of the company’s stock after buying an additional 2,329 shares during the period. Magnetar Financial LLC’s holdings in McKesson were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Swiss National Bank raised its stake in McKesson by 5.9% during the 2nd quarter. Swiss National Bank now owns 379,350 shares of the company’s stock valued at $277,980,000 after acquiring an additional 21,300 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of McKesson by 0.5% during the second quarter. Handelsbanken Fonder AB now owns 216,909 shares of the company’s stock valued at $158,947,000 after purchasing an additional 1,040 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of McKesson by 8,018.0% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,177 shares of the company’s stock valued at $9,823,000 after purchasing an additional 12,027 shares in the last quarter. Prudential PLC lifted its holdings in McKesson by 28.3% in the second quarter. Prudential PLC now owns 7,366 shares of the company’s stock worth $5,398,000 after purchasing an additional 1,623 shares during the period. Finally, Cumberland Partners Ltd lifted its holdings in McKesson by 12.4% in the second quarter. Cumberland Partners Ltd now owns 15,820 shares of the company’s stock worth $11,593,000 after purchasing an additional 1,750 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of NYSE:MCK opened at $866.13 on Friday. The company has a market capitalization of $106.90 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The stock has a fifty day moving average of $788.46 and a 200-day moving average of $734.76. McKesson Corporation has a one year low of $558.13 and a one year high of $869.74.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period in the previous year, the firm earned $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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 $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MCK. Jefferies Financial Group boosted their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Cowen reissued a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research note on Friday, September 26th. Finally, Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $887.69.

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.