Metis Global Partners LLC Buys 120 Shares of McKesson Co. (NYSE:MCK)

Metis Global Partners LLC grew its stake in McKesson Co. (NYSE:MCK) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,840 shares of the company’s stock after acquiring an additional 120 shares during the quarter. Metis Global Partners LLC’s holdings in McKesson were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. RFP Financial Group LLC increased its stake in McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after purchasing an additional 17 shares in the last quarter. Modera Wealth Management LLC raised its stake in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the period. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after acquiring an additional 17 shares in the last quarter. First Western Trust Bank grew its stake in McKesson by 2.0% in the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of McKesson by 0.4% in the second quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after acquiring an additional 19 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Citigroup increased their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Down 2.3 %

NYSE:MCK opened at $610.03 on Friday. The firm has a market capitalization of $77.44 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock’s 50 day moving average price is $516.06 and its two-hundred day moving average price is $553.41.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the firm posted $6.23 earnings per share. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

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.