McKesson Corporation $MCK Shares Purchased by State Street Corp

State Street Corp grew its position in shares of McKesson Corporation (NYSE:MCK) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,699,009 shares of the company’s stock after purchasing an additional 5,551 shares during the period. State Street Corp owned approximately 4.58% of McKesson worth $4,180,090,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of MCK. Solstein Capital LLC lifted its stake in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares in the last quarter. GFG Capital LLC acquired a new position in McKesson in the 2nd quarter valued at about $30,000. Saudi Central Bank purchased a new stake in McKesson during the first quarter worth about $34,000. Flaharty Asset Management LLC acquired a new stake in shares of McKesson during the first quarter worth about $39,000. Finally, Loomis Sayles & Co. L P purchased a new position in shares of McKesson in the second quarter valued at approximately $39,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE:MCK opened at $795.27 on Wednesday. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $895.58. The firm has a market capitalization of $98.16 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 1.31 and a beta of 0.38. The business’s fifty day moving average price is $816.60 and its 200 day moving average price is $746.49.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same period in the previous year, the business earned $7.07 EPS. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio is currently 10.21%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Wells Fargo & Company boosted their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Barclays began coverage on McKesson in a research note on Monday. They issued an “overweight” rating and a $960.00 price objective on the stock. Citigroup lifted their target price on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $892.86.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

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.