McKesson Corporation $MCK Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in McKesson Corporation (NYSE:MCK) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,144 shares of the company’s stock after acquiring an additional 678 shares during the quarter. CIBC Asset Management Inc owned approximately 0.05% of McKesson worth $49,479,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in McKesson during the second quarter valued at $1,346,661,000. Alliancebernstein L.P. boosted its holdings in shares of McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after buying an additional 1,362,386 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after buying an additional 446,060 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in McKesson by 45.6% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after acquiring an additional 261,296 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in McKesson by 68.0% in the second 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. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was 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 in the company, valued at $282,614.64. This represents 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. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction on Monday, January 5th. The shares were 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 trade represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MCK. Wells Fargo & Company upped their target price on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Morgan Stanley increased their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Robert W. Baird set a $968.00 price target on shares of McKesson in a research report on Wednesday, January 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $895.79.

McKesson Stock Performance

NYSE:MCK opened at $819.69 on Friday. The stock has a market cap of $101.17 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.35 and a beta of 0.41. McKesson Corporation has a 1 year low of $570.51 and a 1 year high of $895.58. The business has a fifty day moving average of $831.03 and a 200-day moving average of $770.07.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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. The business had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $7.07 earnings per share. On average, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio is currently 10.21%.

McKesson Company 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.