Exchange Traded Concepts LLC Increases Position in McKesson Corporation $MCK

Exchange Traded Concepts LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 58.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,856 shares of the company’s stock after buying an additional 1,423 shares during the period. Exchange Traded Concepts LLC’s holdings in McKesson were worth $2,979,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MCK. Brighton Jones LLC lifted its stake in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Freedom Investment Management Inc. acquired a new stake in shares of McKesson during the first quarter worth $230,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of McKesson by 10.4% in the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 4,694 shares of the company’s stock worth $3,159,000 after buying an additional 444 shares during the last quarter. Eisler Capital Management Ltd. acquired a new position in shares of McKesson in the 1st quarter valued at about $225,000. Finally, OMERS ADMINISTRATION Corp grew its position in shares of McKesson by 2.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 7,630 shares of the company’s stock valued at $5,135,000 after buying an additional 196 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction that occurred on 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 directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE:MCK opened at $826.43 on Friday. The stock has a market cap of $102.01 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.36 and a beta of 0.38. McKesson Corporation has a fifty-two week low of $565.75 and a fifty-two week high of $895.58. The stock’s 50-day moving average is $829.82 and its two-hundred day moving average is $754.60.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $7.07 earnings per share. On average, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a dividend of $0.82 per share. 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 (DPR) is 10.21%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCK shares. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. Leerink Partners boosted their target price on shares of McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Evercore ISI restated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Wells Fargo & Company lifted their price target on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Finally, UBS Group increased their price objective on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $892.86.

About McKesson

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.