McKesson Corporation $MCK Shares Bought by Ethic Inc.

Ethic Inc. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 17.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,190 shares of the company’s stock after buying an additional 1,208 shares during the quarter. Ethic Inc.’s holdings in McKesson were worth $6,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MCK. BlackRock Inc. bought a new stake in McKesson in the second quarter valued at approximately $8,156,743,000. Bank of America Corp DE grew its holdings in shares of McKesson by 2.4% in the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after purchasing an additional 35,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of McKesson by 3.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock worth $697,096,000 after buying an additional 29,747 shares during the period. Legal & General Group Plc purchased a new position in shares of McKesson in the second quarter worth $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of McKesson in the second quarter worth $651,462,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In related news, EVP Francisco Fraga sold 650 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total value of $716,924.00. Following the completion of the transaction, the executive vice president directly owned 4,414 shares of the company’s stock, valued at $4,868,465.44. This represents a 12.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,161 shares of company stock worth $2,242,515 in the last ninety days. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MCK shares. UBS Group upped their price target on shares of McKesson from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Argus upped their price objective on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Barclays increased their target price on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Finally, Leerink Partners raised their target price on McKesson from $1,070.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Thursday, November 5th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $1,026.18.

McKesson Stock Down 0.1%

Shares of MCK stock opened at $1,059.43 on Tuesday. The stock has a fifty day moving average of $941.40 and a 200 day moving average of $869.30. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $1,121.50. The firm has a market capitalization of $123.52 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. The business had revenue of $110.96 billion for the quarter, compared to the consensus estimate of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.86 EPS. Equities research analysts anticipate that McKesson Corporation will post 46.21 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 9.67%.

McKesson Company Profile

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.