Geode Capital Management LLC Buys 26,299 Shares of McKesson Co. (NYSE:MCK)

Geode Capital Management LLC raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,653,288 shares of the company's stock after buying an additional 26,299 shares during the quarter. Geode Capital Management LLC owned about 2.09% of McKesson worth $1,306,873,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Distillate Capital Partners LLC increased its holdings in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock worth $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp raised its position in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock worth $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after buying an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in McKesson during the second quarter worth about $238,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of McKesson by 2,143.1% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after acquiring an additional 1,393 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

MCK traded down $7.56 during trading on Wednesday, hitting $576.40. 1,093,719 shares of the stock traded hands, compared to its average volume of 818,423. The firm has a market capitalization of $73.17 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a 50-day moving average of $558.49 and a 200 day moving average of $562.32.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the business posted $6.23 earnings per share. McKesson's revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MCK shares. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research report on Monday, October 7th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $635.86.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company's stock.

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.