Generate Investment Management Ltd Boosts Stake in McKesson Co. (NYSE:MCK)

Generate Investment Management Ltd raised its holdings in shares of McKesson Co. (NYSE:MCK) by 87.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,390 shares of the company’s stock after buying an additional 26,244 shares during the period. McKesson comprises 1.9% of Generate Investment Management Ltd’s portfolio, making the stock its 18th largest holding. Generate Investment Management Ltd’s holdings in McKesson were worth $27,880,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MCK. LRI Investments LLC purchased a new position in shares of McKesson in the first quarter valued at $28,000. Register Financial Advisors LLC acquired a new position in McKesson during the 1st quarter valued at about $29,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of McKesson during the third quarter worth $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the 2nd quarter worth approximately $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.1 %

Shares of NYSE MCK opened at $509.20 on Friday. The company has a market capitalization of $66.16 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The firm has a 50-day moving average of $521.09 and a two-hundred day moving average of $551.93.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the prior year, the company earned $7.27 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, research analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Argus raised their price target on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Baird R W lowered McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $610.86.

McKesson Profile

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.