McKesson Co. (NYSE:MCK) Shares Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its position in shares of McKesson Co. (NYSE:MCK) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,645 shares of the company’s stock after buying an additional 2,689 shares during the period. Mediolanum International Funds Ltd’s holdings in McKesson were worth $19,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in shares of McKesson during the 1st quarter worth $669,326,000. International Assets Investment Management LLC lifted its position in shares of McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. purchased a new stake in shares of McKesson during the 1st quarter worth $97,510,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of McKesson by 581.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were 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 directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.4 %

Shares of McKesson stock traded up $2.04 during trading hours on Friday, hitting $507.00. The company’s stock had a trading volume of 95,225 shares, compared to its average volume of 801,036. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business has a fifty day moving average of $518.29 and a 200 day moving average of $551.37. The company has a market capitalization of $65.88 billion, a PE ratio of 22.56, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.27 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s dividend payout ratio is 12.69%.

Analyst Ratings Changes

MCK has been the subject of several recent analyst reports. Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Leerink Partners decreased their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.