Te Ahumairangi Investment Management Ltd Purchases 1,890 Shares of McKesson Co. (NYSE:MCK)

Te Ahumairangi Investment Management Ltd raised its stake in McKesson Co. (NYSE:MCK) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,729 shares of the company’s stock after acquiring an additional 1,890 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in McKesson were worth $5,766,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. ORG Partners LLC boosted its stake in McKesson by 36.9% in the second quarter. ORG Partners LLC now owns 371 shares of the company’s stock valued at $218,000 after acquiring an additional 100 shares during the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of McKesson by 55.8% during the 2nd quarter. Miracle Mile Advisors LLC now owns 874 shares of the company’s stock valued at $510,000 after buying an additional 313 shares in the last quarter. Old Port Advisors lifted its stake in shares of McKesson by 2.1% during the 2nd quarter. Old Port Advisors now owns 1,720 shares of the company’s stock valued at $1,005,000 after buying an additional 35 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of McKesson by 6.7% during the 2nd quarter. Blue Trust Inc. now owns 6,637 shares of the company’s stock valued at $3,563,000 after buying an additional 418 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in shares of McKesson by 2.7% in the 2nd quarter. Stanley Laman Group Ltd. now owns 9,392 shares of the company’s stock worth $5,485,000 after buying an additional 247 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of NYSE MCK opened at $576.40 on Thursday. The stock has a market cap of $73.17 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a 50-day moving average of $560.24 and a 200 day moving average of $562.41.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $6.23 EPS. Research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio is presently 14.71%.

Analysts Set New Price Targets

Several research firms recently commented on MCK. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Leerink Partners dropped their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $635.86.

Insider Transactions at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.11% of the company’s stock.

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.