McKesson Co. (NYSE:MCK) Shares Acquired by M&G Plc

M&G PLC increased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 54.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,647 shares of the company's stock after buying an additional 10,446 shares during the period. M&G PLC's holdings in McKesson were worth $14,646,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Swedbank AB purchased a new position in McKesson during the 1st quarter worth approximately $669,326,000. International Assets Investment Management LLC lifted its holdings in shares of McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock valued at $398,937,000 after buying an additional 734,849 shares during the period. Bessemer Group Inc. grew its stake in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company's stock worth $187,572,000 after purchasing an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. purchased a new position in McKesson in the first quarter valued at about $97,510,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company's stock worth $74,776,000 after acquiring an additional 129,031 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCK shares. Mizuho lifted their price target on McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. 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. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research report on Thursday, August 8th. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and increased their target price for the company from $531.00 to $688.00 in a report on Thursday. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average price target of $625.64.

McKesson Trading Up 0.9 %

Shares of MCK traded up $5.61 during mid-day trading on Friday, reaching $613.12. The company had a trading volume of 1,270,489 shares, compared to its average volume of 822,390. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a fifty day simple moving average of $513.03 and a 200-day simple moving average of $551.60. The stock has a market cap of $79.51 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.89 by $0.18. 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 242.57% and a net margin of 0.94%. The firm's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 earnings per share. As a group, equities analysts predict that McKesson Co. will post 31.92 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 dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson's dividend payout ratio (DPR) is 12.70%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

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.