McKesson Co. (NYSE:MCK) Shares Bought by Putnam Investments LLC

Putnam Investments LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,997,963 shares of the company’s stock after acquiring an additional 62,242 shares during the period. McKesson comprises approximately 1.2% of Putnam Investments LLC’s holdings, making the stock its 14th largest holding. Putnam Investments LLC owned about 1.52% of McKesson worth $925,017,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at about $1,024,140,000. International Assets Investment Management LLC grew its holdings in shares of McKesson by 1,044.5% during the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares during the last quarter. TD Asset Management Inc raised its position in shares of McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after purchasing an additional 403,312 shares during the period. Morgan Stanley lifted its holdings in shares of McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in McKesson by 92.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after purchasing an additional 272,266 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE MCK traded down $2.57 on Tuesday, reaching $588.71. The company’s stock had a trading volume of 128,207 shares, compared to its average volume of 708,364. The firm’s 50 day moving average is $546.84 and its two-hundred day moving average is $512.09. The stock has a market cap of $76.53 billion, a PE ratio of 26.32, a PEG ratio of 1.37 and a beta of 0.47. McKesson Co. has a twelve month low of $389.48 and a twelve month high of $592.12.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $7.19 EPS. Equities research analysts anticipate that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. McKesson’s dividend payout ratio is currently 11.08%.

Insiders Place Their Bets

In other news, CFO Britt J. Vitalone sold 12,752 shares of McKesson stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the transaction, the chief financial officer now directly owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Britt J. Vitalone sold 12,752 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total transaction of $7,116,763.68. Following the sale, the chief financial officer now owns 14,028 shares of the company’s stock, valued at $7,828,886.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,204 shares of company stock worth $15,699,113. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Barclays increased their target price on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, SVB Leerink started coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.