Tema Etfs LLC Purchases 1,741 Shares of McKesson Corporation $MCK

Tema Etfs LLC raised its position in shares of McKesson Corporation (NYSE:MCK) by 125.1% during the third quarter, HoldingsChannel reports. The firm owned 3,133 shares of the company’s stock after purchasing an additional 1,741 shares during the period. Tema Etfs LLC’s holdings in McKesson were worth $2,420,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CW Advisors LLC raised its holdings in McKesson by 282.5% in the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after purchasing an additional 8,130 shares in the last quarter. Central Pacific Bank Trust Division boosted its stake in shares of McKesson by 54.4% during the 3rd quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock valued at $3,023,000 after purchasing an additional 1,378 shares in the last quarter. Voya Investment Management LLC increased its position in shares of McKesson by 11.9% during the third quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock valued at $462,126,000 after buying an additional 63,621 shares during the period. Investment Management Corp of Ontario raised its stake in McKesson by 19.0% in the second quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock worth $13,211,000 after buying an additional 2,881 shares in the last quarter. Finally, Motco lifted its holdings in McKesson by 50,389.7% in the third quarter. Motco now owns 14,642 shares of the company’s stock worth $11,312,000 after buying an additional 14,613 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Jefferies Financial Group raised their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “buy (a-)” rating on shares of McKesson in a research note on Monday, December 29th. Finally, Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $892.86.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at $282,614.64. The trade was a 50.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $825.32 on Tuesday. The company has a 50-day simple moving average of $834.59 and a two-hundred day simple moving average of $763.69. The stock has a market capitalization of $101.87 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.41. McKesson Corporation has a 52-week low of $570.51 and a 52-week high of $895.58.

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

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.82 per share. The ex-dividend date was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.