Lingohr Asset Management GmbH Acquires Shares of 6,266 McKesson Corporation $MCK

Lingohr Asset Management GmbH bought a new position in McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,266 shares of the company’s stock, valued at approximately $4,841,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after purchasing an additional 232,286 shares in the last quarter. Geode Capital Management LLC grew its position in shares of McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after buying an additional 112,224 shares during the period. Alliancebernstein L.P. increased its stake in shares of McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after acquiring an additional 1,362,386 shares in the last quarter. Norges Bank purchased a new position in McKesson during the 2nd quarter valued at about $1,346,661,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in McKesson by 56.4% during the 2nd 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. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Jefferies Financial Group upped their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. TD Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Monday, December 22nd. Morgan Stanley reiterated an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research note on Thursday. Finally, Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $899.36.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK stock opened at $831.32 on Friday. The stock has a market capitalization of $102.61 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58. The business has a fifty day moving average price of $828.09 and a 200-day moving average price of $773.56.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued a $0.82 dividend. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.