Westwood Holdings Group Inc. Boosts Stock Position in McKesson Corporation $MCK

Westwood Holdings Group Inc. increased its stake in McKesson Corporation (NYSE:MCK) by 778.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,690 shares of the company’s stock after purchasing an additional 47,580 shares during the quarter. Westwood Holdings Group Inc.’s holdings in McKesson were worth $39,343,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the 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 transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent analyst reports. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Mizuho upped their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Robert W. Baird lifted their price target on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Stock Down 0.2%

MCK opened at $814.16 on Monday. The business’s fifty day simple moving average is $820.19 and its 200 day simple moving average is $748.57. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58. The stock has a market cap of $100.49 billion, a PE ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.38.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the previous year, the company posted $7.07 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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 paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend 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.