FORA Capital LLC Has $8.06 Million Stock Holdings in McKesson Co. (NYSE:MCK)

FORA Capital LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 109.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,299 shares of the company’s stock after purchasing an additional 8,534 shares during the period. McKesson accounts for 0.9% of FORA Capital LLC’s holdings, making the stock its 20th biggest holding. FORA Capital LLC’s holdings in McKesson were worth $8,059,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MCK. Swedbank AB acquired a new stake in McKesson during the first quarter worth approximately $669,326,000. International Assets Investment Management LLC boosted its holdings 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 buying an additional 734,849 shares in the last quarter. FMR LLC grew its position in shares of McKesson by 17.3% during the 3rd 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 during the period. The Manufacturers Life Insurance Company lifted its position in shares of McKesson by 55.8% during 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 period. Finally, Massachusetts Financial Services Co. MA boosted its stake in McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale 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 Performance

Shares of MCK traded up $4.57 on Wednesday, reaching $629.57. The stock had a trading volume of 82,790 shares, compared to its average volume of 818,576. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a market capitalization of $79.92 billion, a price-to-earnings ratio of 32.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The company has a 50-day simple moving average of $535.14 and a 200-day simple moving average of $558.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share 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 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 business posted $6.23 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, analysts expect that McKesson Co. will post 32.78 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio is presently 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MCK shares. Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.