471 McKesson Corporation $MCK Shares Acquired by Phoenix Financial Ltd.

Phoenix Financial Ltd. grew its stake in McKesson Corporation (NYSE:MCK) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,616 shares of the company’s stock after purchasing an additional 471 shares during the quarter. Phoenix Financial Ltd.’s holdings in McKesson were worth $8,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of McKesson during the 2nd quarter valued at about $8,156,743,000. Bank of America Corp DE increased its position in shares of McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after buying an additional 35,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 in the last quarter. Legal & General Group Plc bought a new position in McKesson in the second quarter worth about $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in McKesson in the second quarter worth about $651,462,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other McKesson news, CAO B Jr sold 111 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,161 shares of company stock worth $2,242,515. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Up 2.4%

Shares of NYSE:MCK traded up $26.26 during midday trading on Friday, reaching $1,103.31. The company’s stock had a trading volume of 527,403 shares, compared to its average volume of 716,694. The firm has a 50 day moving average of $955.45 and a 200-day moving average of $874.53. The firm has a market capitalization of $127.39 billion, a P/E ratio of 28.37, a PEG ratio of 1.82 and a beta of 0.27. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. The company had revenue of $110.96 billion during the quarter, compared to analyst estimates of $109.90 billion. During the same period last year, the business earned $9.86 EPS. McKesson’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, research analysts predict that McKesson Corporation will post 46.16 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is 9.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MCK shares. Weiss Ratings raised McKesson from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, November 9th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Argus increased their target price on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. TD Cowen raised their target price on McKesson from $1,006.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $1,040.29.

About McKesson

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.