AustralianSuper Pty Ltd Makes New $15.81 Million Investment in McKesson Corporation $MCK

AustralianSuper Pty Ltd bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 3rd quarter, Holdings Channel reports. The fund bought 20,460 shares of the company’s stock, valued at approximately $15,806,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Solstein Capital LLC grew its stake in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. State of Wyoming purchased a new position in shares of McKesson during the 2nd quarter valued at approximately $29,000. GFG Capital LLC acquired a new stake in shares of McKesson during the second quarter worth approximately $30,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson in the second quarter worth $35,000. Finally, Abound Wealth Management raised its holdings in McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.7%

NYSE:MCK opened at $820.85 on Friday. The stock has a 50 day moving average of $828.79 and a 200-day moving average of $772.77. The firm has a market capitalization of $101.32 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The business had revenue of $103.15 billion for 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 business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $7.07 EPS. As a group, analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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 dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson 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 sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Evercore ISI reissued an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Robert W. Baird set a $968.00 price target on McKesson in a research note on Wednesday, January 14th. Wells Fargo & Company upped their price objective on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. UBS Group increased their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $966.00 price target on shares of McKesson in a report on Thursday. 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 company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $899.36.

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.