McKesson Corporation $MCK Stock: M&G PLC Reduces Position

M&G PLC lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 10.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,338 shares of the company’s stock after selling 2,935 shares during the period. M&G PLC’s holdings in McKesson were worth $21,639,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MCK. Vestor Capital LLC lifted its stake in McKesson by 1,796.6% in the 3rd quarter. Vestor Capital LLC now owns 15,211 shares of the company’s stock valued at $12,987,000 after buying an additional 14,409 shares in the last quarter. Leuthold Group LLC increased its position in McKesson by 9.6% during the third quarter. Leuthold Group LLC now owns 16,823 shares of the company’s stock worth $14,364,000 after buying an additional 1,469 shares in the last quarter. Fulcrum Asset Management LLP increased its position in McKesson by 156.8% during the third quarter. Fulcrum Asset Management LLP now owns 53,198 shares of the company’s stock worth $46,007,000 after buying an additional 32,482 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in shares of McKesson by 2.5% in the third quarter. Beverly Hills Private Wealth LLC now owns 1,924 shares of the company’s stock worth $1,643,000 after acquiring an additional 47 shares during the last quarter. Finally, Hager Investment Management Services LLC raised its holdings in shares of McKesson by 20.7% in the third quarter. Hager Investment Management Services LLC now owns 1,562 shares of the company’s stock worth $1,334,000 after acquiring an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $1,083.95 on Wednesday. The firm has a market cap of $125.15 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.79 and a beta of 0.27. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,121.50. The firm’s 50 day moving average price is $945.38 and its 200 day moving average price is $870.63.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, beating the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The company had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same period in the previous year, the firm posted $9.86 EPS. McKesson’s revenue was up 7.5% on a year-over-year basis. As a group, equities analysts predict that McKesson Corporation will post 46.16 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is presently 9.67%.

Insider Buying and Selling at McKesson

In related news, EVP Francisco Fraga sold 800 shares of the stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,161 shares of company stock valued at $2,242,515 over the last quarter. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price objective on McKesson from $1,042.00 to $1,255.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley set a $977.00 price objective on McKesson in a research note on Tuesday, October 6th. Leerink Partners lifted their price objective on McKesson from $1,070.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Thursday, November 5th. Mizuho boosted their target price on shares of McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Finally, Bank of America boosted their target price on shares of McKesson from $950.00 to $1,050.00 in a research note on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,040.29.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.