Vinva Investment Management Ltd Boosts Stock Holdings in McKesson Corporation $MCK

Vinva Investment Management Ltd grew its position in McKesson Corporation (NYSE:MCK) by 30.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,541 shares of the company’s stock after buying an additional 1,980 shares during the quarter. Vinva Investment Management Ltd’s holdings in McKesson were worth $6,199,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB raised its stake in McKesson by 1.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock valued at $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC boosted its stake in McKesson by 2.2% during the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after purchasing an additional 14 shares during the last quarter. Cypress Wealth Services LLC grew its holdings in shares of McKesson by 3.7% during the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares in the last quarter. HBK Sorce Advisory LLC lifted its stake in shares of McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after buying an additional 16 shares in the last quarter. Finally, Valmark Advisers Inc. boosted its position in McKesson by 2.1% during the second quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock worth $618,000 after acquiring an additional 17 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird boosted their price target on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Finally, Bank of America raised their price objective on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $887.69.

McKesson Price Performance

Shares of MCK opened at $884.76 on Friday. The firm has a 50-day simple moving average of $803.50 and a two-hundred day simple moving average of $739.53. The stock has a market cap of $109.20 billion, a PE ratio of 35.28, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1-year low of $558.13 and a 1-year high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter last year, the company posted $7.07 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a dividend of $0.82 per share. 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 currently 10.21%.

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.