Liberty One Investment Management LLC Makes New $50.76 Million Investment in McKesson Corporation $MCK

Liberty One Investment Management LLC purchased a new stake in McKesson Corporation (NYSE:MCK) during the third quarter, according to its most recent filing with the SEC. The firm purchased 65,696 shares of the company’s stock, valued at approximately $50,761,000. McKesson accounts for 2.9% of Liberty One Investment Management LLC’s portfolio, making the stock its 21st biggest holding. Liberty One Investment Management LLC owned about 0.05% of McKesson at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MCK. Vanguard Group Inc. grew its stake in McKesson by 2.0% in the second quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of McKesson by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock valued at $2,057,065,000 after buying an additional 112,224 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after acquiring an additional 1,362,386 shares in the last quarter. Norges Bank bought a new position in shares of McKesson during the 2nd quarter worth approximately $1,346,661,000. Finally, Arrowstreet Capital Limited Partnership lifted 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. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MCK shares. Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research report on Thursday, November 6th. Morgan Stanley raised their price target on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Mizuho boosted their price target on McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 24th. Finally, Leerink Partners increased their price objective on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $892.86.

McKesson Stock Performance

Shares of MCK stock opened at $825.32 on Tuesday. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The firm has a market capitalization of $101.87 billion, a PE ratio of 25.69, a P/E/G ratio of 1.34 and a beta of 0.41. The stock’s 50-day simple moving average is $834.59 and its 200-day simple moving average is $763.69.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 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 for the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the prior year, the firm earned $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side 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. Stockholders of record on Monday, December 1st were paid a $0.82 dividend. The ex-dividend date was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

McKesson Company Profile

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.