Royal London Asset Management Ltd. Buys 1,431 Shares of McKesson Co. (NYSE:MCK)

Royal London Asset Management Ltd. increased its stake in shares of McKesson Co. (NYSE:MCK) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,606 shares of the company’s stock after acquiring an additional 1,431 shares during the quarter. Royal London Asset Management Ltd.’s holdings in McKesson were worth $29,965,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MCK. Redwood Investment Management LLC boosted its holdings in McKesson by 3.6% in the third quarter. Redwood Investment Management LLC now owns 2,767 shares of the company’s stock worth $1,353,000 after acquiring an additional 96 shares in the last quarter. Motley Fool Asset Management LLC grew its position in McKesson by 5.1% in the 3rd quarter. Motley Fool Asset Management LLC now owns 5,901 shares of the company’s stock valued at $2,942,000 after purchasing an additional 285 shares during the period. Ingalls & Snyder LLC increased its stake in McKesson by 39.2% during the 3rd quarter. Ingalls & Snyder LLC now owns 12,777 shares of the company’s stock valued at $6,317,000 after purchasing an additional 3,600 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in McKesson by 2.0% during the third quarter. Integrated Wealth Concepts LLC now owns 4,057 shares of the company’s stock worth $2,006,000 after buying an additional 81 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its stake in shares of McKesson by 534.6% in the third quarter. Investment Management Corp of Ontario now owns 18,713 shares of the company’s stock valued at $9,252,000 after buying an additional 15,764 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Leerink Partners lowered their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho began coverage on McKesson in a research report on Wednesday. They set a “neutral” rating and a $630.00 target price on the stock. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $635.86.

McKesson Stock Down 0.6 %

Shares of MCK stock opened at $603.64 on Friday. The firm has a market cap of $76.63 billion, a P/E ratio of 31.26, a PEG ratio of 1.34 and a beta of 0.49. The company has a 50 day moving average of $552.52 and a 200-day moving average of $561.54. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results 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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 earnings per share. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) 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.