McKesson Corporation $MCK Stock Holdings Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its holdings in McKesson Corporation (NYSE:MCK) by 14.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 264,514 shares of the company’s stock after selling 44,562 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of McKesson worth $204,348,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sanders Morris Harris LLC acquired a new position in McKesson in the third quarter valued at approximately $2,603,000. Graves Light Lenhart Wealth Inc. lifted its holdings in shares of McKesson by 13.7% in the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 1,059 shares of the company’s stock worth $818,000 after purchasing an additional 128 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of McKesson in the 3rd quarter worth approximately $2,233,000. HF Advisory Group LLC boosted its position in McKesson by 69.4% during the 3rd quarter. HF Advisory Group LLC now owns 2,070 shares of the company’s stock valued at $1,599,000 after purchasing an additional 848 shares during the period. Finally, TruWealth Advisors LLC grew its stake in McKesson by 5.2% during the 3rd quarter. TruWealth Advisors LLC now owns 1,287 shares of the company’s stock worth $994,000 after buying an additional 64 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $809.51 on Wednesday. The stock has a market cap of $99.92 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.35 and a beta of 0.38. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $895.58. The stock’s 50 day moving average price is $823.03 and its 200 day moving average price is $749.98.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same period last year, the firm earned $7.07 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. TD Cowen increased their price objective on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company boosted their target price on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Robert W. Baird upped their target price on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

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.