Russell Investments Group Ltd. Acquires 17,418 Shares of McKesson Corporation $MCK

Russell Investments Group Ltd. boosted its stake in McKesson Corporation (NYSE:MCK) by 7.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 243,247 shares of the company’s stock after acquiring an additional 17,418 shares during the quarter. Russell Investments Group Ltd. owned 0.21% of McKesson worth $207,753,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. King Luther Capital Management Corp boosted its holdings in McKesson by 1.6% in the 3rd quarter. King Luther Capital Management Corp now owns 49,889 shares of the company’s stock worth $42,596,000 after buying an additional 793 shares during the last quarter. Bingham Private Wealth LLC increased its stake in McKesson by 4.2% during the 3rd quarter. Bingham Private Wealth LLC now owns 577 shares of the company’s stock worth $493,000 after buying an additional 23 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of McKesson by 7.9% during the third quarter. Maryland State Retirement & Pension System now owns 7,190 shares of the company’s stock valued at $6,139,000 after acquiring an additional 527 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of McKesson by 6.3% during the third quarter. Ritholtz Wealth Management now owns 14,918 shares of the company’s stock valued at $12,737,000 after acquiring an additional 887 shares during the last quarter. Finally, UNIVEST FINANCIAL Corp raised its holdings in shares of McKesson by 4.3% during the third quarter. UNIVEST FINANCIAL Corp now owns 675 shares of the company’s stock valued at $576,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCK. JPMorgan Chase & Co. lifted their price target on McKesson from $1,042.00 to $1,255.00 and gave the stock an “overweight” rating in a research note on Tuesday. Citigroup raised their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada lifted their target price on shares of McKesson from $845.00 to $965.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 5th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a report on Thursday, August 6th. Finally, Bank of America increased their target price on shares of McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $1,040.29.

McKesson Stock Performance

Shares of McKesson stock opened at $1,076.26 on Friday. The business’s 50 day moving average price is $951.81 and its 200 day moving average price is $873.19. The company has a market cap of $124.27 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.82 and a beta of 0.27. McKesson Corporation has a one year low of $723.68 and a one year high of $1,121.50.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The company had revenue of $110.96 billion during the quarter, compared to analysts’ expectations of $109.90 billion. During the same period in the prior year, the business earned $9.86 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts predict that McKesson Corporation will post 46.16 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.3%. McKesson’s payout ratio is presently 9.67%.

Insider Activity

In related news, CAO B Jr sold 111 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the sale, the executive vice president owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,161 shares of company stock worth $2,242,515. Corporate insiders own 0.06% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.