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

Pacer Advisors Inc. boosted its stake in McKesson Co. (NYSE:MCK) by 12.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,344 shares of the company’s stock after acquiring an additional 1,823 shares during the quarter. Pacer Advisors Inc.’s holdings in McKesson were worth $8,081,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Swedbank AB bought a new position in shares of McKesson in the 1st quarter valued at $669,326,000. International Assets Investment Management LLC boosted its stake in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after purchasing an additional 734,849 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of McKesson by 581.0% during the third quarter. Assenagon Asset Management S.A. now owns 151,240 shares of the company’s stock worth $74,776,000 after purchasing an additional 129,031 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of McKesson by 134.6% in the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after buying an additional 126,567 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK opened at $623.19 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a market cap of $79.11 billion, a PE ratio of 32.27, a P/E/G ratio of 1.36 and a beta of 0.44. The stock has a 50-day moving average of $530.98 and a 200-day moving average of $557.45.

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

McKesson Dividend Announcement

The firm 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 dividend of $0.71 per share. 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 payout ratio is 14.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on MCK. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Citigroup lifted their target price on McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two equities research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $631.57.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’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 completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Company Profile

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.