PKO Investment Management Joint Stock Co Grows Stake in McKesson Corporation $MCK

PKO Investment Management Joint Stock Co grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 133.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,400 shares of the company’s stock after acquiring an additional 800 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in McKesson were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of McKesson by 9.9% during the 3rd quarter. Nordea Investment Management AB now owns 1,093,531 shares of the company’s stock valued at $837,267,000 after purchasing an additional 98,853 shares in the last quarter. Lynch Asset Management Inc. purchased a new position in shares of McKesson in the 3rd quarter valued at approximately $39,000. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of McKesson by 2.8% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,270 shares of the company’s stock valued at $3,299,000 after purchasing an additional 118 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in McKesson by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 318,711 shares of the company’s stock worth $246,217,000 after purchasing an additional 3,427 shares during the period. Finally, First Horizon Corp purchased a new stake in McKesson in the third quarter worth $11,631,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MCK shares. Morgan Stanley raised their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Mizuho boosted their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Leerink Partners raised their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Barclays started coverage on shares of McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price for the company. Finally, Robert W. Baird upped their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

McKesson Trading Up 1.1%

Shares of MCK stock opened at $825.32 on Tuesday. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58. The stock has a market capitalization of $101.87 billion, a P/E ratio of 25.69, a P/E/G ratio of 1.34 and a beta of 0.41. The firm’s 50 day moving average is $834.59 and its 200 day moving average is $763.69.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for 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%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business posted $7.07 EPS. As a group, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio is 10.21%.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

About McKesson

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.