World Investment Advisors LLC Makes New $2.23 Million Investment in McKesson Co. (NYSE:MCK)

World Investment Advisors LLC bought a new stake in McKesson Co. (NYSE:MCK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,509 shares of the company’s stock, valued at approximately $2,229,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. International Assets Investment Management LLC grew its holdings in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after buying an additional 734,849 shares in the last quarter. FMR LLC increased its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC boosted its holdings in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of McKesson by 2.9% during the 3rd 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. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Evercore ISI boosted their price objective on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. increased their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Leerink Partners reduced their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $643.43.

McKesson Price Performance

MCK stock opened at $576.24 on Friday. The business’s 50-day moving average is $564.01 and its two-hundred day moving average is $562.74. The firm has a market capitalization of $73.15 billion, a P/E ratio of 29.84, a P/E/G ratio of 1.25 and a beta of 0.49. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the firm earned $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

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.