Susquehanna Fundamental Investments LLC Makes New $6.40 Million Investment in McKesson Co. (NYSE:MCK)

Susquehanna Fundamental Investments LLC bought a new stake in McKesson Co. (NYSE:MCK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,953 shares of the company’s stock, valued at approximately $6,397,000.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the period. Putnam Investments LLC raised its holdings in shares of McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the period. Legal & General Group Plc raised its holdings in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the period. Swedbank AB bought a new stake in shares of McKesson during the 1st quarter worth approximately $669,326,000. Finally, Boston Partners boosted its holdings in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In the last quarter, insiders sold 11,259 shares of company stock worth $6,635,492. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several research analyst reports. Evercore ISI decreased their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Argus lifted their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Baird R W downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Wells Fargo & Company decreased their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Leerink Partners dropped their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $613.36.

McKesson Price Performance

Shares of NYSE MCK opened at $488.25 on Friday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business has a fifty day moving average price of $550.84 and a 200 day moving average price of $555.57. The stock has a market capitalization of $63.44 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the firm posted $7.27 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, equities research analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, August 30th. McKesson’s payout ratio is currently 12.69%.

McKesson Company 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.