National Pension Service Increases Stake in McKesson Corporation $MCK

National Pension Service boosted its stake in McKesson Corporation (NYSE:MCK) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 387,456 shares of the company’s stock after purchasing an additional 10,678 shares during the quarter. National Pension Service owned about 0.31% of McKesson worth $299,325,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MCK. Solstein Capital LLC boosted its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. State of Wyoming bought a new position in McKesson during the 2nd quarter worth approximately $29,000. GFG Capital LLC bought a new position in shares of McKesson in the 2nd quarter worth about $30,000. Abound Wealth Management boosted its position in McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of McKesson during the second quarter worth about $35,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $831.32 on Friday. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The business’s fifty day moving average is $828.09 and its two-hundred day moving average is $773.56. The firm has a market cap of $102.61 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. McKesson’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $7.07 earnings per share. On average, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, March 2nd. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCK shares. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Morgan Stanley reissued an “overweight” rating and set a $966.00 target price on shares of McKesson in a research note on Thursday. Evercore ISI restated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Weiss Ratings restated a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Finally, Barclays began coverage on McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $899.36.

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 transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.