Generate Investment Management Ltd Acquires 26,244 Shares of McKesson Co. (NYSE:MCK)

Generate Investment Management Ltd increased its holdings in McKesson Co. (NYSE:MCK - Free Report) by 87.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,390 shares of the company's stock after purchasing an additional 26,244 shares during the quarter. McKesson makes up approximately 1.9% of Generate Investment Management Ltd's holdings, making the stock its 18th largest holding. Generate Investment Management Ltd's holdings in McKesson were worth $27,880,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MCK. LRI Investments LLC purchased a new stake in shares of McKesson in the 1st quarter worth about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson in the first quarter worth about $29,000. Wolff Wiese Magana LLC boosted its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. bought a new position in shares of McKesson in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares of the company's stock, valued at $51,546,684.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE MCK traded up $0.48 during trading hours on Friday, hitting $509.20. The company's stock had a trading volume of 976,374 shares, compared to its average volume of 808,387. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company's 50 day simple moving average is $521.09 and its two-hundred day simple moving average is $552.06. The company has a market cap of $66.16 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts' expectations of $82.53 billion. During the same period in the previous year, the company earned $7.27 earnings per share. The firm's quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Friday, August 30th. This is a boost from McKesson's previous quarterly dividend of $0.62. McKesson's dividend payout ratio is 12.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a research report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. StockNews.com cut shares of McKesson from a "buy" rating to a "hold" rating in a report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $610.86.

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.