Generate Investment Management Ltd Grows Position in McKesson Corporation $MCK

Generate Investment Management Ltd grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 138.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,267 shares of the company’s stock after acquiring an additional 11,765 shares during the quarter. Generate Investment Management Ltd’s holdings in McKesson were worth $15,657,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Solstein Capital LLC raised its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares in the last quarter. State of Wyoming bought a new position in shares of McKesson in the 2nd quarter worth $29,000. GFG Capital LLC purchased a new stake in shares of McKesson during the 2nd quarter valued at $30,000. Abound Wealth Management lifted its holdings in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the last quarter. Finally, Delos Wealth Advisors LLC purchased a new position in McKesson in the second quarter worth $35,000. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. The trade was a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Robert W. Baird raised their price target on McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Jefferies Financial Group raised their price objective on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Citigroup boosted their target price on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $892.86.

McKesson Price Performance

MCK opened at $827.54 on Wednesday. The stock’s 50 day simple moving average is $832.25 and its 200 day simple moving average is $757.46. The firm has a market cap of $102.14 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.37 and a beta of 0.38. McKesson Corporation has a 1 year low of $565.75 and a 1 year high of $895.58.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.07 earnings per share. As a group, sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

McKesson Profile

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.