ING Groep NV Buys 74,402 Shares of McKesson Co. (NYSE:MCK)

ING Groep NV boosted its stake in McKesson Co. (NYSE:MCK) by 269.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 101,993 shares of the company’s stock after acquiring an additional 74,402 shares during the period. ING Groep NV’s holdings in McKesson were worth $50,427,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter worth $40,000. Carmichael Hill & Associates Inc. bought a new stake in shares of McKesson in the second quarter valued at $52,000. Finally, Centennial Bank AR purchased a new position in shares of McKesson during the 2nd quarter valued at $53,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock traded down $8.60 on Thursday, hitting $616.00. 190,214 shares of the company’s stock traded hands, compared to its average volume of 821,424. The company’s fifty day simple moving average is $516.06 and its 200 day simple moving average is $553.41. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a market capitalization of $78.20 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $6.23 EPS. As a group, sell-side analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MCK. Wells Fargo & Company decreased their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Mizuho upped their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $631.57.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.