McKesson Co. (NYSE:MCK) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP boosted its holdings in McKesson Co. (NYSE:MCK) by 461.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 128,000 shares of the company’s stock after buying an additional 105,200 shares during the quarter. Two Sigma Advisers LP’s holdings in McKesson were worth $72,948,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock worth $1,622,754,000 after acquiring an additional 222,496 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. increased its position in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock worth $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter worth about $1,200,361,000. Finally, Northern Trust Corp lifted its holdings in shares of McKesson by 9.0% in the 4th quarter. Northern Trust Corp now owns 1,532,203 shares of the company’s stock valued at $873,218,000 after purchasing an additional 126,940 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $726.05 on Tuesday. The stock has a market capitalization of $90.84 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company has a fifty day moving average of $684.84 and a 200-day moving average of $629.90. McKesson Co. has a one year low of $464.42 and a one year high of $728.48.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the firm earned $6.18 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. Equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Wall Street Analyst Weigh In

MCK has been the topic of several research analyst reports. Mizuho lifted their price target on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Morgan Stanley lifted their target price on shares of McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. StockNews.com raised shares of McKesson from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 13th. Finally, Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $686.69.

McKesson Company 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.