McKesson Corporation $MCK Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its holdings in McKesson Corporation (NYSE:MCK) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,190 shares of the company’s stock after purchasing an additional 527 shares during the quarter. Maryland State Retirement & Pension System’s holdings in McKesson were worth $6,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. BlackRock Inc. bought a new position in McKesson during the 2nd quarter valued at about $8,156,743,000. Bank of America Corp DE grew its stake in shares of McKesson by 2.4% in the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after acquiring an additional 35,916 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of McKesson by 3.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock worth $697,096,000 after acquiring an additional 29,747 shares during the period. Legal & General Group Plc bought a new stake in shares of McKesson in the second quarter worth approximately $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of McKesson during the second quarter valued at approximately $651,462,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of research analyst reports. Evercore restated an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $1,042.00 to $1,255.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a research note on Thursday, November 5th. Mizuho increased their price target on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a report on Tuesday, October 20th. Finally, Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,040.29.

Insider Activity

In other news, CAO B Jr sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. The trade was a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,161 shares of company stock worth $2,242,515 in the last ninety days. Corporate insiders own 0.06% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $1,076.26 on Friday. The firm has a market capitalization of $124.27 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.82 and a beta of 0.27. McKesson Corporation has a one year low of $723.68 and a one year high of $1,121.50. The business has a fifty day moving average price of $951.81 and a 200-day moving average price of $873.19.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. The company had revenue of $110.96 billion for the quarter, compared to analysts’ expectations of $109.90 billion. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. McKesson’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $9.86 EPS. On average, equities research analysts expect that McKesson Corporation will post 46.16 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.3%. McKesson’s dividend payout ratio (DPR) is 9.67%.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.