Penserra Capital Management LLC Boosts Position in McKesson Co. (NYSE:MCK)

Penserra Capital Management LLC grew its holdings in McKesson Co. (NYSE:MCK) by 21.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,075 shares of the company’s stock after acquiring an additional 192 shares during the period. Penserra Capital Management LLC’s holdings in McKesson were worth $530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCK. International Assets Investment Management LLC boosted its holdings in McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after acquiring an additional 129,031 shares during the period. American Century Companies Inc. raised its position in McKesson by 134.6% during the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after acquiring an additional 126,567 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in McKesson by 82.1% in the third quarter. Victory Capital Management Inc. now owns 259,397 shares of the company’s stock valued at $128,251,000 after acquiring an additional 116,944 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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 $44,094,604.60. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MCK shares. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised 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 upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Leerink Partners dropped their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

McKesson Stock Performance

Shares of MCK stock opened at $626.54 on Thursday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock’s fifty day moving average is $537.43 and its two-hundred day moving average is $558.92. The firm has a market capitalization of $79.53 billion, a P/E ratio of 32.45, a PEG ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $6.23 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Announces Dividend

The business 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 $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio is presently 14.71%.

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.