UniSuper Management Pty Ltd Boosts Position in McKesson Corporation $MCK

UniSuper Management Pty Ltd boosted its position in McKesson Corporation (NYSE:MCK) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,295 shares of the company’s stock after purchasing an additional 3,198 shares during the period. UniSuper Management Pty Ltd’s holdings in McKesson were worth $31,902,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Lockheed Martin Investment Management Co. boosted its holdings in shares of McKesson by 19.3% in the third quarter. Lockheed Martin Investment Management Co. now owns 10,500 shares of the company’s stock worth $8,112,000 after buying an additional 1,700 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in McKesson by 14.9% during the third quarter. Teacher Retirement System of Texas now owns 76,370 shares of the company’s stock valued at $58,999,000 after buying an additional 9,888 shares during the last quarter. ERn Financial LLC bought a new position in McKesson in the third quarter worth approximately $214,000. UNIVEST FINANCIAL Corp boosted its stake in shares of McKesson by 62.8% during the 3rd quarter. UNIVEST FINANCIAL Corp now owns 609 shares of the company’s stock worth $470,000 after acquiring an additional 235 shares during the last quarter. Finally, Coign Capital Advisors LLC grew its position in shares of McKesson by 8.2% during the 3rd quarter. Coign Capital Advisors LLC now owns 1,013 shares of the company’s stock valued at $783,000 after acquiring an additional 77 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.3%

Shares of MCK opened at $819.69 on Friday. The business’s 50 day moving average is $831.03 and its 200 day moving average is $769.75. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58. The company has a market capitalization of $101.17 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 1.34 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its quarterly 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. The business had revenue of $103.15 billion during 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 firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.07 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Evercore ISI restated an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research note on Thursday, November 6th. Two equities 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $895.79.

Insider Activity at McKesson

In related 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 value of $283,476.27. Following the sale, 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 SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction 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 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 position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by corporate insiders.

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.