McKesson Corporation $MCK Position Lifted by Voya Investment Management LLC

Voya Investment Management LLC grew its stake in shares of McKesson Corporation (NYSE:MCK) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,880 shares of the company’s stock after acquiring an additional 63,621 shares during the period. Voya Investment Management LLC’s holdings in McKesson were worth $462,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Solstein Capital LLC lifted its position in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming acquired a new stake in McKesson during the second quarter valued at approximately $29,000. GFG Capital LLC bought a new position in McKesson during the 2nd quarter worth approximately $30,000. Delos Wealth Advisors LLC acquired a new position in shares of McKesson in the 2nd quarter worth approximately $35,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson in the 1st quarter valued at approximately $34,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $810.89 on Friday. The firm has a market capitalization of $100.09 billion, a PE ratio of 25.24, a P/E/G ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 12 month low of $565.75 and a 12 month high of $895.58. The company’s 50 day simple moving average is $825.11 and its 200 day simple moving average is $750.80.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The firm 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 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price objective on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Citigroup increased their target price on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wells Fargo & Company lifted their price target on shares of McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Finally, Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

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.