Robeco Institutional Asset Management B.V. Increases Stake in McKesson Corporation $MCK

Robeco Institutional Asset Management B.V. increased its position in shares of McKesson Corporation (NYSE:MCK) by 27.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 248,988 shares of the company’s stock after buying an additional 53,076 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in McKesson were worth $192,353,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in McKesson during the 2nd quarter worth approximately $1,346,661,000. Alliancebernstein L.P. lifted its position in shares of McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after purchasing an additional 1,362,386 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after purchasing an additional 446,060 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after purchasing an additional 312,473 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in McKesson by 45.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock valued at $610,977,000 after buying an additional 261,296 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Morgan Stanley boosted their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. UBS Group increased their price target on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Mizuho upped their target price on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $892.86.

McKesson Stock Up 0.1%

MCK opened at $823.96 on Tuesday. McKesson Corporation has a 52 week low of $570.51 and a 52 week high of $895.58. The business’s 50 day moving average is $833.92 and its two-hundred day moving average is $760.18. The firm has a market cap of $101.70 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $7.07 earnings per share. Equities analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were paid a $0.82 dividend. The ex-dividend date was 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 dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.08% of the company’s stock.

McKesson Company 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.