Scotia Capital Inc. Has $15.85 Million Stock Position in McKesson Corporation $MCK

Scotia Capital Inc. boosted its holdings in McKesson Corporation (NYSE:MCK) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,624 shares of the company’s stock after buying an additional 224 shares during the period. Scotia Capital Inc.’s holdings in McKesson were worth $15,845,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in McKesson by 22.0% during the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after acquiring an additional 68,294 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of McKesson by 8,018.0% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,177 shares of the company’s stock worth $9,823,000 after purchasing an additional 12,027 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of McKesson during the first quarter valued at approximately $289,000. Lynwood Price Capital Management LP raised its stake in shares of McKesson by 18.3% in the second quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock valued at $18,906,000 after purchasing an additional 4,000 shares in the last quarter. Finally, KG&L Capital Management LLC lifted its position in McKesson by 114.8% in the second quarter. KG&L Capital Management LLC now owns 698 shares of the company’s stock worth $511,000 after purchasing an additional 373 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCK. TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Mizuho lifted their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research report on Wednesday, September 24th. Wells Fargo & Company raised their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Finally, Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Down 0.5%

Shares of MCK stock opened at $879.00 on Friday. The company has a market capitalization of $108.49 billion, a P/E ratio of 35.05, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $895.58. The firm has a 50-day moving average price of $807.11 and a 200 day moving average price of $740.86.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 0.84% and a negative return on equity of 196.66%. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. During the same quarter last year, the business posted $7.07 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Activity at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

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.