UniSuper Management Pty Ltd Grows Stake in McKesson Corporation $MCK

UniSuper Management Pty Ltd boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 8.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,295 shares of the company’s stock after acquiring an additional 3,198 shares during the quarter. UniSuper Management Pty Ltd’s holdings in McKesson were worth $31,902,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of McKesson during the 2nd quarter valued at approximately $1,346,661,000. Alliancebernstein L.P. increased its position in McKesson by 150.4% during the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after acquiring an additional 1,362,386 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in McKesson by 56.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after acquiring an additional 446,060 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of McKesson by 45.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock valued at $610,977,000 after acquiring an additional 261,296 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of McKesson by 68.0% in the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after acquiring an additional 257,670 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $819.69 on Friday. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58. The firm has a market capitalization of $101.17 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.34 and a beta of 0.41. The stock has a 50 day moving average price of $831.03 and a 200 day moving average price of $769.75.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. During the same period last year, the business posted $7.07 EPS. McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley upped their price target on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Robert W. Baird set a $968.00 price objective on McKesson in a report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $895.79.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This represents a 10.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by corporate insiders.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.