Public Sector Pension Investment Board Has $91.26 Million Holdings in McKesson Corporation $MCK

by · The Markets Daily

Public Sector Pension Investment Board lifted its stake in McKesson Corporation (NYSE:MCK – Free Report) by 18.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,539 shares of the company’s stock after acquiring an additional 19,327 shares during the period. Public Sector Pension Investment Board’s holdings in McKesson were worth $91,260,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. Solstein Capital LLC boosted its holdings in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. GFG Capital LLC acquired a new position in shares of McKesson during the second quarter valued at about $30,000. Saudi Central Bank acquired a new position in shares of McKesson during the first quarter valued at about $34,000. Loomis Sayles & Co. L P bought a new stake in shares of McKesson in the second quarter valued at about $39,000. Finally, Access Investment Management LLC acquired a new stake in McKesson during the second quarter worth about $40,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value 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. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Evercore ISI reaffirmed an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Bank of America boosted their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. 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. Finally, Mizuho boosted their price target on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $892.86.

Get Our Latest Stock Analysis on McKesson

McKesson Price Performance

McKesson stock opened at $814.16 on Friday. The firm has a market capitalization of $100.49 billion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.38. The stock has a fifty day moving average price of $820.19 and a two-hundred day moving average price of $748.31. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $895.58.

McKesson (NYSE:MCK – Get Free Report) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping 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 business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same quarter in the prior year, the firm earned $7.07 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

About McKesson

(Free Report)

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.

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