McKesson Co. (NYSE:MCK) Stock Position Raised by Fmr LLC

FMR LLC raised its position in McKesson Co. (NYSE:MCK - Free Report) by 17.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,968,239 shares of the company's stock after purchasing an additional 438,423 shares during the period. FMR LLC owned about 2.34% of McKesson worth $1,467,557,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in McKesson by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. Legal & General Group Plc raised its position in shares of McKesson by 2.9% during 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 during the last quarter. Swedbank AB purchased a new stake in McKesson in the 1st quarter valued at approximately $669,326,000. The Manufacturers Life Insurance Company grew its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after buying an additional 425,875 shares during the last quarter. Finally, Boston Partners increased its position in McKesson by 4.1% during 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. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Barclays upped their target price on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus target price of $631.57.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of McKesson stock traded up $4.09 during trading on Wednesday, reaching $629.09. The company had a trading volume of 107,755 shares, compared to its average volume of 818,675. The company has a market cap of $79.86 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.33 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 firm's fifty day moving average is $535.14 and its 200-day moving average is $558.45.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during 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 business's revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.23 EPS. On average, research analysts anticipate that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio (DPR) is presently 14.71%.

About McKesson

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.