Fmr LLC Boosts Holdings in McKesson Co. (NYSE:MCK)

Fmr LLC raised its holdings in McKesson Co. (NYSE:MCK) by 17.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,968,239 shares of the company’s stock after purchasing an additional 438,423 shares during the quarter. Fmr LLC’s holdings in McKesson were worth $1,467,557,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in McKesson in the first quarter valued at $28,000. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter valued at $29,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the second quarter valued at $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 1.3 %

MCK opened at $625.00 on Wednesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a 50-day moving average price of $535.14 and a 200 day moving average price of $558.45. The company has a market cap of $79.34 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during 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%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 EPS. As a group, sell-side analysts expect that McKesson Co. will post 32.78 earnings per share for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Wells Fargo & Company lowered their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling at McKesson

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 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 in the company, 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 available through the SEC website. 0.11% of the stock is owned by company insiders.

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.