Prudential PLC Purchases 1,623 Shares of McKesson Corporation $MCK

Prudential PLC increased its position in shares of McKesson Corporation (NYSE:MCK) by 28.3% during the second quarter, HoldingsChannel.com reports. The firm owned 7,366 shares of the company’s stock after buying an additional 1,623 shares during the period. Prudential PLC’s holdings in McKesson were worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Solstein Capital LLC boosted its stake in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock valued at $29,000 after buying an additional 18 shares in the last quarter. GFG Capital LLC acquired a new position in shares of McKesson in the 2nd quarter valued at $30,000. Saudi Central Bank bought a new position in shares of McKesson during the 1st quarter worth about $34,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the 1st quarter valued at about $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

McKesson stock opened at $866.13 on Friday. The business’s fifty day moving average is $788.46 and its two-hundred day moving average is $734.59. The firm has a market cap of $106.90 billion, a P/E ratio of 34.53, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $869.74.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same period last year, the company posted $7.07 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MCK shares. Wells Fargo & Company increased their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Morgan Stanley upped their price objective on McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Mizuho raised their target price on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research note on Wednesday, September 24th. Finally, Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $887.69.

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.