Metis Global Partners LLC Has $2.89 Million Position in McKesson Co. (NYSE:MCK)

Metis Global Partners LLC boosted its position in McKesson Co. (NYSE:MCK) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,840 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Metis Global Partners LLC’s holdings in McKesson were worth $2,887,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. LRI Investments LLC bought a new stake in shares of McKesson in the first quarter valued at about $28,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the 3rd 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 period. ORG Wealth Partners LLC acquired a new position in shares of McKesson during the 3rd quarter worth approximately $40,000. Carmichael Hill & Associates Inc. bought a new position in shares of McKesson during the second quarter worth approximately $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson during the second quarter worth approximately $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCK shares. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird raised 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 report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Finally, Citigroup raised their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Performance

Shares of NYSE:MCK opened at $610.03 on Friday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The company has a market capitalization of $77.44 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. The company has a fifty day moving average of $516.06 and a 200-day moving average of $553.41.

McKesson (NYSE:MCK) last issued its 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 negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 14.71%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

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.