B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in McKesson Co. (NYSE:MCK)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,344 shares of the company’s stock, valued at approximately $2,148,000.

Other hedge funds also recently bought and sold shares of the company. Swedbank AB acquired a new position in McKesson in the first quarter valued at $669,326,000. International Assets Investment Management LLC increased its stake in McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after acquiring an additional 734,849 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of McKesson by 581.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the period. American Century Companies Inc. lifted its stake in shares of McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after purchasing an additional 126,567 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of McKesson by 82.1% during the 3rd quarter. Victory Capital Management Inc. now owns 259,397 shares of the company’s stock worth $128,251,000 after purchasing an additional 116,944 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK opened at $628.15 on Friday. The company has a market capitalization of $79.74 billion, a P/E ratio of 32.53, a PEG ratio of 1.33 and a beta of 0.44. The company has a 50-day moving average of $528.89 and a 200-day moving average of $556.74. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’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 posted $6.23 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $631.57.

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.