National Pension Service Has $182.49 Million Stake in McKesson Co. (NYSE:MCK)

National Pension Service lifted its position in McKesson Co. (NYSE:MCK) by 12.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,106 shares of the company’s stock after purchasing an additional 41,018 shares during the quarter. National Pension Service owned 0.28% of McKesson worth $182,493,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Swedbank AB bought a new stake in McKesson in the first quarter valued at $669,326,000. International Assets Investment Management LLC grew its position 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 acquiring an additional 734,849 shares during the period. Bessemer Group Inc. grew its position in McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. bought a new stake in McKesson in the first quarter valued at $97,510,000. Finally, Assenagon Asset Management S.A. grew its position in McKesson by 581.0% in the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock valued at $74,776,000 after acquiring an additional 129,031 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $525.94 on Tuesday. The firm has a market cap of $68.20 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.17 and a beta of 0.44. The stock’s 50-day moving average is $511.62 and its 200-day moving average is $550.62. McKesson Co. has a one year low of $431.35 and a one year high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. McKesson’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $7.27 earnings per share. Equities analysts anticipate that McKesson Co. will post 31.92 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. McKesson’s payout ratio is presently 12.70%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company decreased their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.