Westpac Banking Corp Purchases 2,461 Shares of McKesson Co. (NYSE:MCK)

Westpac Banking Corp raised its position in McKesson Co. (NYSE:MCK) by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,990 shares of the company’s stock after buying an additional 2,461 shares during the period. Westpac Banking Corp’s holdings in McKesson were worth $7,403,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MCK. Norges Bank acquired a new position in shares of McKesson in the 4th quarter worth approximately $1,200,361,000. Janus Henderson Group PLC raised its position in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in McKesson in the fourth quarter worth $178,397,000. Alliancebernstein L.P. grew its holdings in shares of McKesson by 46.6% during the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock worth $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of McKesson in the fourth quarter valued at $128,125,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Up 3.0 %

MCK stock opened at $694.12 on Thursday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $695.46. The firm has a market cap of $86.99 billion, a PE ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. The business’s 50-day moving average price is $629.16 and its two-hundred day moving average price is $582.85.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 over the last 90 days. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Finally, Evercore ISI increased their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $656.71.

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.