Pensionfund Sabic Buys 1,200 Shares of McKesson Co. (NYSE:MCK)

Pensionfund Sabic grew its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,650 shares of the company's stock after buying an additional 1,200 shares during the quarter. Pensionfund Sabic's holdings in McKesson were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in McKesson in the 3rd quarter valued at about $40,000. Finally, Centennial Bank AR bought a new position in McKesson during the second quarter worth about $53,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

Shares of NYSE:MCK traded up $2.90 during midday trading on Monday, hitting $580.34. 836,011 shares of the stock traded hands, compared to its average volume of 639,070. The stock has a market capitalization of $73.67 billion, a PE ratio of 30.05, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business's 50 day moving average is $584.70 and its two-hundred day moving average is $561.54.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $89.33 billion. During the same quarter in the previous year, the company earned $6.23 earnings per share. McKesson's quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft lowered 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. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Finally, Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective for the company. Two equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $648.71.

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.