McKesson Co. (NYSE:MCK) Stock Holdings Increased by ING Groep NV

ING Groep NV boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 269.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,993 shares of the company's stock after buying an additional 74,402 shares during the period. ING Groep NV owned 0.08% of McKesson worth $50,427,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. RFP Financial Group LLC lifted its position in McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company's stock worth $112,000 after buying an additional 17 shares during the period. Modera Wealth Management LLC lifted its position in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company's stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC lifted its position in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after buying an additional 17 shares during the period. First Western Trust Bank lifted its position in McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company's stock worth $490,000 after buying an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich raised its holdings in shares of McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company's stock worth $2,935,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on MCK. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Finally, Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a report on Monday, October 7th. Two research 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.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $631.57.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now 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 is accessible through this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Trading Down 2.3 %

NYSE MCK traded down $14.57 during mid-day trading on Thursday, reaching $610.03. 749,297 shares of the company's stock traded hands, compared to its average volume of 823,953. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The company has a fifty day simple moving average of $516.06 and a 200-day simple moving average of $553.41. The company has a market cap of $77.44 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio 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.