FORA Capital LLC Boosts Stock Position in McKesson Co. (NYSE:MCK)

FORA Capital LLC increased its position in McKesson Co. (NYSE:MCK) by 109.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 16,299 shares of the company’s stock after buying an additional 8,534 shares during the quarter. McKesson makes up about 0.9% of FORA Capital LLC’s holdings, making the stock its 20th largest holding. FORA Capital LLC’s holdings in McKesson were worth $8,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA lifted its holdings in McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC lifted its holdings in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. Legal & General Group Plc boosted its position in shares of McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares during the last quarter. Swedbank AB purchased a new position in McKesson during the first quarter valued at $669,326,000. Finally, The Manufacturers Life Insurance Company increased its holdings in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after acquiring an additional 425,875 shares during the last quarter. 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 stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of several research reports. Leerink Partners dropped their price objective 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. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Barclays increased their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Two research 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Price Performance

Shares of MCK traded up $4.57 during mid-day trading on Wednesday, reaching $629.57. 82,790 shares of the company’s stock traded hands, compared to its average volume of 818,576. The stock’s 50-day moving average is $535.14 and its two-hundred day moving average is $558.45. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market cap of $79.92 billion, a P/E ratio of 32.37, a P/E/G ratio of 1.33 and a beta of 0.44.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s payout ratio is 14.71%.

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.