McKesson Corporation $MCK Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its position in shares of McKesson Corporation (NYSE:MCK) by 58.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,856 shares of the company’s stock after buying an additional 1,423 shares during the quarter. Exchange Traded Concepts LLC’s holdings in McKesson were worth $2,979,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Freedom Investment Management Inc. purchased a new position in McKesson during the first quarter worth about $230,000. B. Metzler seel. Sohn & Co. AG boosted its stake in McKesson by 10.4% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 4,694 shares of the company’s stock worth $3,159,000 after buying an additional 444 shares during the last quarter. Eisler Capital Management Ltd. purchased a new stake in McKesson in the 1st quarter valued at about $225,000. Finally, OMERS ADMINISTRATION Corp grew its holdings in McKesson by 2.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 7,630 shares of the company’s stock valued at $5,135,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MCK shares. Citigroup raised their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Jefferies Financial Group increased their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. increased their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Finally, Morgan Stanley lifted their target price on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Two equities 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $892.86.

McKesson Price Performance

NYSE:MCK opened at $826.43 on Friday. The business’s 50-day moving average is $829.82 and its two-hundred day moving average is $754.60. The firm has a market capitalization of $102.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38. McKesson Corporation has a 12 month low of $565.75 and a 12 month high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the business earned $7.07 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company 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%.

McKesson Profile

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.