McKesson Corporation $MCK Shares Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB increased its stake in shares of McKesson Corporation (NYSE:MCK) by 15.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,547 shares of the company’s stock after purchasing an additional 726 shares during the period. Wilmington Savings Fund Society FSB’s holdings in McKesson were worth $4,285,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of McKesson during the second quarter worth about $1,346,661,000. Alliancebernstein L.P. lifted its stake in McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after acquiring an additional 1,362,386 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after acquiring an additional 446,060 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of McKesson by 45.6% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock valued at $610,977,000 after purchasing an additional 261,296 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of McKesson by 68.0% in the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock valued at $466,441,000 after purchasing an additional 257,670 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented 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. Morgan Stanley upped their price objective on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Citigroup raised their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Robert W. Baird set a $968.00 price target on McKesson in a report on Wednesday. Finally, Evercore ISI reissued an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a report on Thursday, November 6th. Two research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $895.79.

McKesson Trading Down 0.5%

Shares of NYSE MCK opened at $840.29 on Friday. The stock has a market cap of $103.72 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.39 and a beta of 0.41. The stock has a 50 day moving average of $833.47 and a two-hundred day moving average of $766.16. McKesson Corporation has a twelve month low of $570.51 and a twelve month high of $895.58.

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

McKesson Announces Dividend

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

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. The trade was a 50.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

McKesson 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.