14,409 McKesson Corporation $MCK Shares Purchased by Vestor Capital LLC

Vestor Capital LLC lifted its stake in McKesson Corporation (NYSE:MCK) by 1,796.6% in the third quarter, HoldingsChannel.com reports. The fund owned 15,211 shares of the company’s stock after purchasing an additional 14,409 shares during the period. Vestor Capital LLC’s holdings in McKesson were worth $12,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in McKesson during the second quarter valued at approximately $8,156,743,000. Bank of America Corp DE purchased a new stake in McKesson in the second quarter worth approximately $998,896,000. Legal & General Group Plc purchased a new stake in McKesson in the second quarter worth approximately $656,566,000. The Manufacturers Life Insurance Company bought a new stake in McKesson in the 2nd quarter worth approximately $651,462,000. Finally, Bank of New York Mellon Corp bought a new stake in McKesson in the 2nd quarter worth approximately $599,060,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Down 0.1%

Shares of NYSE:MCK opened at $1,059.43 on Tuesday. The stock has a 50 day moving average of $941.40 and a 200 day moving average of $869.30. The company has a market cap of $123.52 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.27. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The company had revenue of $110.96 billion for the quarter, compared to analysts’ expectations of $109.90 billion. During the same quarter last year, the business earned $9.86 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that McKesson Corporation will post 46.21 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 9.67%.

Insider Buying and Selling at McKesson

In related news, EVP Francisco Fraga sold 650 shares of McKesson stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the transaction, the executive vice president owned 4,414 shares in the company, valued at approximately $4,868,465.44. The trade was a 12.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,161 shares of company stock worth $2,242,515 over the last 90 days. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. UBS Group raised their price target on McKesson from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Thursday, November 5th. Royal Bank Of Canada increased their target price on McKesson from $845.00 to $965.00 and gave the company a “sector perform” rating in a report on Thursday, November 5th. Morgan Stanley set a $977.00 target price on McKesson in a report on Tuesday, October 6th. Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Mizuho boosted their price target on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,026.18.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.