Te Ahumairangi Investment Management Ltd Purchases 1,890 Shares of McKesson Co. (NYSE:MCK)

Te Ahumairangi Investment Management Ltd raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 19.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,729 shares of the company's stock after acquiring an additional 1,890 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in McKesson were worth $5,766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Distillate Capital Partners LLC grew its holdings in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after acquiring an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp increased its position in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after purchasing an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC raised its stake in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock worth $948,000 after purchasing an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in shares of McKesson in the 2nd quarter worth about $238,000. Finally, Newbridge Financial Services Group Inc. grew its position in McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after buying an additional 1,393 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the firm'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 sale, the executive vice president now owns 1,443 shares of the company's stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

MCK stock traded up $2.60 during trading on Thursday, hitting $579.29. 750,748 shares of the company traded hands, compared to its average volume of 818,142. The company has a 50-day moving average of $560.24 and a 200-day moving average of $562.41. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a market capitalization of $73.54 billion, a PE ratio of 29.85, a P/E/G ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 firm had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the firm posted $6.23 earnings per share. The business's quarterly revenue was up 21.3% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have weighed in on MCK shares. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI upped their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. lifted 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. Two 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $635.86.

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.