Integrated Investment Consultants LLC Acquires New Shares in McKesson Co. (NYSE:MCK)

Posted by Defense World Staff on Mar 16th, 2023

Integrated Investment Consultants LLC purchased a new stake in shares of McKesson Co. (NYSE:MCK – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 591 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds have also recently made changes to their positions in MCK. WCM Investment Management LLC acquired a new stake in shares of McKesson during the third quarter valued at about $302,630,000. Artisan Partners Limited Partnership acquired a new stake in shares of McKesson during the second quarter valued at about $144,978,000. Arrowstreet Capital Limited Partnership raised its position in shares of McKesson by 53.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after acquiring an additional 320,588 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of McKesson by 7,667.1% during the third quarter. Canada Pension Plan Investment Board now owns 230,062 shares of the company’s stock worth $78,191,000 after acquiring an additional 227,100 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in shares of McKesson during the third quarter worth about $73,045,000. 85.23% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 0.3 %

NYSE MCK opened at $335.35 on Thursday. The company has a market cap of $45.92 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 1.25 and a beta of 0.59. McKesson Co. has a 52 week low of $287.14 and a 52 week high of $401.78. The business has a 50 day moving average price of $364.48 and a 200-day moving average price of $366.74.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, beating the consensus estimate of $6.36 by $0.54. The firm had revenue of $70.49 billion during the quarter, compared to the consensus estimate of $70.98 billion. McKesson had a negative return on equity of 216.12% and a net margin of 1.15%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.15 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 25.93 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, February 28th. This represents a $2.16 annualized dividend and a dividend yield of 0.64%. McKesson’s payout ratio is 9.88%.

Insider Activity at McKesson

In related news, EVP Nancy Avila sold 161 shares of McKesson stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the transaction, the executive vice president now owns 4,631 shares of the company’s stock, valued at $1,713,562.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other McKesson news, CEO Brian S. Tyler sold 7,416 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the transaction, the chief executive officer now owns 75,737 shares of the company’s stock, valued at $28,780,060. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Nancy Avila sold 161 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $370.02, for a total value of $59,573.22. Following the completion of the transaction, the executive vice president now directly owns 4,631 shares in the company, valued at approximately $1,713,562.62. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of analyst reports. UBS Group lowered their price objective on McKesson from $450.00 to $440.00 and set a “buy” rating for the company in a research report on Tuesday, January 31st. Morgan Stanley raised their price objective on McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. StockNews.com started coverage on McKesson in a research report on Thursday. They set a “strong-buy” rating for the company. Finally, Robert W. Baird lifted their target price on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $416.30.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).