McKesson Co. (NYSE:MCK) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in shares of McKesson Co. (NYSE:MCK) by 9.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 593,941 shares of the company’s stock after purchasing an additional 50,147 shares during the period. McKesson accounts for about 1.1% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 7th largest position. Jacobs Levy Equity Management Inc.’s holdings in McKesson were worth $293,656,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the 3rd quarter valued at $29,000. Wolff Wiese Magana LLC raised 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 purchasing an additional 52 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the 3rd quarter worth about $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth approximately $52,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of McKesson stock opened at $621.39 on Tuesday. The firm has a market cap of $78.88 billion, a PE ratio of 32.18, a price-to-earnings-growth ratio of 1.36 and a beta of 0.49. The firm’s 50-day simple moving average is $542.22 and its 200-day simple moving average is $560.02. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the business posted $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho boosted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI upped their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $631.57.

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.