McKesson Corporation $MCK Shares Purchased by Voya Investment Management LLC

Voya Investment Management LLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 92.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 650,851 shares of the company’s stock after acquiring an additional 312,473 shares during the quarter. Voya Investment Management LLC’s holdings in McKesson were worth $437,760,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $26,000. Bank of Jackson Hole Trust boosted its position in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after acquiring an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after acquiring an additional 41 shares during the last quarter. Saudi Central Bank acquired a new position in McKesson in the first quarter valued at about $34,000. Finally, Flaharty Asset Management LLC acquired a new position in McKesson in the first quarter valued at about $39,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $718.72 on Friday. The firm has a market capitalization of $89.39 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. The firm’s 50-day moving average is $697.97 and its two-hundred day moving average is $693.40. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $7.88 earnings per share. Analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. McKesson’s payout ratio is currently 13.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,560 shares of company stock worth $30,438,602 over the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Thursday, August 7th. Wells Fargo & Company upped their target price on shares of McKesson from $766.00 to $772.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 13th. Evercore ISI upped their target price on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $810.00 target price (up previously from $770.00) on shares of McKesson in a research report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.10.

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.