Virtus Advisers LLC Purchases 138 Shares of McKesson Corporation $MCK

Virtus Advisers LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 46.3% in the second quarter, Holdings Channel reports. The institutional investor owned 436 shares of the company’s stock after buying an additional 138 shares during the period. Virtus Advisers LLC’s holdings in McKesson were worth $319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of McKesson during the second quarter worth $1,346,661,000. Nuveen LLC acquired a new position in McKesson during the 1st quarter worth about $475,235,000. Wellington Management Group LLP lifted its holdings in McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after buying an additional 418,524 shares during the period. Boston Partners grew its position in shares of McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in shares of McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MCK shares. Citigroup increased their target price on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Morgan Stanley increased their price objective on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Mizuho increased their price target on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Finally, Jefferies Financial Group boosted their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Performance

Shares of NYSE:MCK opened at $879.00 on Monday. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58. The business’s 50 day simple moving average is $807.11 and its two-hundred day simple moving average is $741.65. The firm has a market cap of $108.49 billion, a P/E ratio of 35.05, a PEG ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period in the prior year, the firm earned $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be 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 is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is 10.21%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is owned by corporate insiders.

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.