Voya Investment Management LLC Increases Stake in McKesson Corporation $MCK

Voya Investment Management LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 598,880 shares of the company’s stock after purchasing an additional 63,621 shares during the quarter. Voya Investment Management LLC owned about 0.48% of McKesson worth $462,126,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MCK. CW Advisors LLC increased its holdings in shares of McKesson by 282.5% during the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after buying an additional 8,130 shares during the last quarter. Investment Management Corp of Ontario grew its position in McKesson by 19.0% during the second quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock valued at $13,211,000 after acquiring an additional 2,881 shares during the period. Acadian Asset Management LLC increased its stake in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock worth $254,979,000 after acquiring an additional 68,294 shares during the last quarter. Central Pacific Bank Trust Division raised its holdings in shares of McKesson by 54.4% in the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after purchasing an additional 1,378 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of McKesson by 5.7% in the 2nd quarter. Baird Financial Group Inc. now owns 38,219 shares of the company’s stock valued at $28,006,000 after purchasing an additional 2,044 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 transaction of $283,476.27. Following the completion of the sale, the chief accounting officer 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MCK. JPMorgan Chase & Co. increased their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a research report on Friday, September 26th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. TD Cowen raised their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Bank of America upped their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group raised their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Trading Up 0.5%

Shares of MCK stock opened at $810.89 on Friday. The firm has a fifty day simple moving average of $825.11 and a 200-day simple moving average of $750.80. The company has a market capitalization of $100.09 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 1.33 and a beta of 0.38. McKesson Corporation has a twelve month low of $565.75 and a twelve month high of $895.58.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.07 EPS. Equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

McKesson 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.