Chartwell Investment Partners LLC Makes New Investment in McKesson Co. (NYSE:MCK)

Chartwell Investment Partners LLC purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,800 shares of the company's stock, valued at approximately $3,856,000.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company's stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the last quarter. Legal & General Group Plc grew its position in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock worth $757,862,000 after purchasing an additional 36,583 shares in the last quarter. Swedbank AB bought a new stake in shares of McKesson in the first quarter valued at $669,326,000. Boston Partners raised its position in shares of McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company's stock worth $635,763,000 after buying an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of McKesson by 7.9% during the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock valued at $500,879,000 after purchasing an additional 62,875 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company's stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

MCK traded up $2.07 on Tuesday, hitting $617.66. 1,010,017 shares of the company were exchanged, compared to its average volume of 825,141. The firm has a market capitalization of $80.10 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 1.39 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The business's fifty day moving average is $514.12 and its 200 day moving average is $552.38.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company earned $6.23 earnings per share. Analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research note on Friday, September 13th. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Finally, Citigroup dropped their price objective on shares of McKesson from $670.00 to $630.00 and set a "buy" rating for the company in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $625.64.

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.