McKesson Co. (NYSE:MCK) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in McKesson Co. (NYSE:MCK) by 55.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,189,377 shares of the company’s stock after buying an additional 425,875 shares during the period. The Manufacturers Life Insurance Company owned 0.94% of McKesson worth $588,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. 1832 Asset Management L.P. bought a new position in McKesson during the 1st quarter valued at $102,000. Dynasty Wealth Management LLC bought a new position in McKesson during the first quarter valued at about $1,086,000. B. Riley Wealth Advisors Inc. grew its holdings in McKesson by 10.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 4,747 shares of the company’s stock worth $2,548,000 after acquiring an additional 449 shares during the period. Tidal Investments LLC raised its position in McKesson by 31.7% in the first quarter. Tidal Investments LLC now owns 7,487 shares of the company’s stock worth $4,021,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Semmax Financial Advisors Inc. boosted its position in shares of McKesson by 5.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 1,399 shares of the company’s stock valued at $776,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of MCK opened at $616.72 on Tuesday. The company has a market capitalization of $78.29 billion, a PE ratio of 31.94, a PEG ratio of 1.35 and a beta of 0.44. The company’s 50 day moving average price is $532.91 and its 200 day moving average price is $557.99. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 EPS. On average, equities analysts forecast that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research reports. Mizuho raised their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Wells Fargo & Company decreased their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $631.57.

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.