Choreo LLC Raises Position in McKesson Corporation $MCK

Choreo LLC grew its stake in McKesson Corporation (NYSE:MCK) by 6.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,737 shares of the company’s stock after purchasing an additional 538 shares during the period. Choreo LLC’s holdings in McKesson were worth $6,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Nuveen LLC bought a new stake in McKesson in the first quarter worth $475,235,000. Wellington Management Group LLP increased its position in McKesson by 4,559.6% during the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Boston Partners raised its stake in shares of McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after acquiring an additional 365,484 shares during the period. Voya Investment Management LLC lifted its holdings in shares of McKesson by 92.3% in the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of McKesson by 68.0% in the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after acquiring an additional 257,670 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Evercore ISI reissued an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a research report on Thursday, November 6th. Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Citigroup increased their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $887.69.

McKesson Stock Down 0.5%

Shares of NYSE MCK opened at $884.76 on Thursday. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58. The firm has a market cap of $109.20 billion, a PE ratio of 35.28, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The business has a fifty day simple moving average of $799.61 and a two-hundred day simple moving average of $738.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same quarter last year, the firm posted $7.07 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

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.