McKesson Corporation $MCK Shares Bought by HF Advisory Group LLC

HF Advisory Group LLC raised its stake in McKesson Corporation (NYSE:MCK) by 69.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,070 shares of the company’s stock after buying an additional 848 shares during the period. HF Advisory Group LLC’s holdings in McKesson were worth $1,599,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of McKesson during the 2nd quarter valued at about $1,346,661,000. Alliancebernstein L.P. raised its stake in McKesson by 150.4% during the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after purchasing an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in McKesson by 56.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after purchasing an additional 446,060 shares during the last quarter. Wellington Management Group LLP boosted its holdings in McKesson by 4,559.6% in the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after purchasing an additional 418,524 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of McKesson by 92.3% in the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after buying an additional 312,473 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents 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 the SEC website. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on MCK shares. Mizuho lifted their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Jefferies Financial Group raised their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 8th. Finally, Robert W. Baird raised their price objective on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $892.86.

McKesson Stock Up 1.1%

Shares of NYSE MCK opened at $823.15 on Tuesday. The business’s 50 day moving average is $821.84 and its two-hundred day moving average is $749.35. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The firm has a market cap of $101.60 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 1.34 and a beta of 0.38.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $7.07 earnings per share. Analysts anticipate 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 given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

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.