Pacer Advisors Inc. Acquires 1,823 Shares of McKesson Co. (NYSE:MCK)

Pacer Advisors Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,344 shares of the company’s stock after purchasing an additional 1,823 shares during the quarter. Pacer Advisors Inc.’s holdings in McKesson were worth $8,081,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of McKesson in the 1st quarter valued at about $28,000. MidAtlantic Capital Management Inc. bought a new position in McKesson in the third quarter valued at approximately $29,000. Wolff Wiese Magana LLC increased its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MCK. Wells Fargo & Company dropped their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $631.57.

McKesson Stock Performance

Shares of McKesson stock opened at $623.19 on Friday. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market cap of $79.11 billion, a PE ratio of 32.27, a PEG ratio of 1.36 and a beta of 0.44. The firm has a 50-day moving average of $530.98 and a 200-day moving average of $557.45.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the prior year, the business posted $6.23 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 32.78 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

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.