Toronto Dominion Bank Has $22.14 Million Holdings in McKesson Co. (NYSE:MCK)

Toronto Dominion Bank boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,779 shares of the company's stock after purchasing an additional 5,537 shares during the period. Toronto Dominion Bank's holdings in McKesson were worth $22,140,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MCK. International Assets Investment Management LLC lifted its position in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after purchasing an additional 734,849 shares in the last quarter. FMR LLC lifted its position in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company's stock valued at $283,903,000 after buying an additional 321,119 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction 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 directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCK shares. Leerink Partners cut their price objective on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday. Evercore ISI raised their price objective 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. Finally, Citigroup boosted their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $643.43.

McKesson Stock Performance

Shares of NYSE:MCK traded down $2.71 during midday trading on Friday, hitting $576.58. The company's stock had a trading volume of 508,631 shares, compared to its average volume of 816,910. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market capitalization of $73.19 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.25 and a beta of 0.49. The stock's 50 day simple moving average is $562.18 and its 200 day simple moving average is $562.53.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. During the same period in the previous year, the business posted $6.23 EPS. The company's revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson's dividend payout ratio is currently 14.71%.

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.