Perpetual Ltd Grows Position in McKesson Co. (NYSE:MCK)

Perpetual Ltd boosted its stake in shares of McKesson Co. (NYSE:MCK) by 13.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,937 shares of the company’s stock after acquiring an additional 230 shares during the period. Perpetual Ltd’s holdings in McKesson were worth $1,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at approximately $29,000. Wolff Wiese Magana LLC increased its holdings in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC grew its position in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

NYSE:MCK opened at $584.44 on Thursday. The firm has a market cap of $74.19 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The company has a 50-day moving average of $594.00 and a 200 day moving average of $561.06. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm 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 company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm earned $6.23 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Morgan Stanley boosted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Evercore ISI increased their price objective on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment 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 company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.