Capital International Investors Buys 112,655 Shares of McKesson Co. (NYSE:MCK)

Capital International Investors lifted its stake in shares of McKesson Co. (NYSE:MCK) by 51.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 332,187 shares of the company’s stock after purchasing an additional 112,655 shares during the quarter. Capital International Investors owned 0.26% of McKesson worth $178,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sachetta LLC acquired a new stake in McKesson during the 4th quarter worth approximately $27,000. Register Financial Advisors LLC acquired a new stake in McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter worth approximately $31,000. Newbridge Financial Services Group Inc. boosted its position in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the period. Finally, Carolinas Wealth Consulting LLC boosted its position in McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. Argus lifted their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Citigroup boosted their price target on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Barclays boosted their price target on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. StockNews.com upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $599.33.

McKesson Trading Up 0.7 %

NYSE MCK traded up $4.43 on Friday, hitting $600.16. 634,064 shares of the company were exchanged, compared to its average volume of 629,093. The company has a market cap of $77.98 billion, a PE ratio of 26.82, a PEG ratio of 1.39 and a beta of 0.45. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The stock has a fifty day moving average of $582.73 and a 200-day moving average of $542.05.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter in the previous year, the company posted $7.19 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 31.68 earnings per share for the current year.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 704 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the transaction, the executive vice president now owns 2,215 shares in the company, valued at $1,236,169.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the completion of the sale, the chief executive officer now owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 704 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total transaction of $392,895.36. Following the completion of the sale, the executive vice president now owns 2,215 shares of the company’s stock, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,567 shares of company stock worth $16,691,841. Insiders own 0.11% of the company’s stock.

McKesson 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.