Janus Henderson Group PLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Janus Henderson Group PLC raised its position in McKesson Co. (NYSE:MCK) by 126.8% during the third quarter, Holdings Channel.com reports. The fund owned 574,440 shares of the company’s stock after purchasing an additional 321,119 shares during the quarter. Janus Henderson Group PLC’s holdings in McKesson were worth $283,903,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Distillate Capital Partners LLC increased its position in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares during the period. Chase Investment Counsel Corp increased its position in shares of McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock valued at $5,247,000 after buying an additional 3,027 shares during the period. Wealthspire Advisors LLC increased its position in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after buying an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new position in shares of McKesson during the second quarter valued at about $238,000. Finally, Newbridge Financial Services Group Inc. increased its position in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock valued at $851,000 after buying an additional 1,393 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Citigroup boosted their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Performance

Shares of NYSE MCK opened at $617.98 on Wednesday. The company has a market cap of $78.45 billion, a PE ratio of 32.00, a P/E/G ratio of 1.34 and a beta of 0.49. The firm’s 50 day moving average price is $547.30 and its 200-day moving average price is $560.86. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.23 earnings per share. On average, analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.