MetLife Investment Management LLC Boosts Stock Holdings in McKesson Co. (NYSE:MCK)

MetLife Investment Management LLC grew its position in shares of McKesson Co. (NYSE:MCK) by 0.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 36,622 shares of the company’s stock after purchasing an additional 206 shares during the period. MetLife Investment Management LLC’s holdings in McKesson were worth $15,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in McKesson by 20.1% in the second quarter. Osaic Holdings Inc. now owns 61,974 shares of the company’s stock worth $22,834,000 after purchasing an additional 10,375 shares during the last quarter. Gateway Advisory LLC purchased a new stake in McKesson in the second quarter worth approximately $296,000. ProShare Advisors LLC boosted its holdings in McKesson by 0.9% in the second quarter. ProShare Advisors LLC now owns 26,475 shares of the company’s stock worth $11,313,000 after purchasing an additional 227 shares during the last quarter. Profund Advisors LLC boosted its holdings in McKesson by 1.4% in the second quarter. Profund Advisors LLC now owns 2,121 shares of the company’s stock worth $906,000 after purchasing an additional 29 shares during the last quarter. Finally, Personal CFO Solutions LLC boosted its holdings in McKesson by 1.0% in the second quarter. Personal CFO Solutions LLC now owns 3,825 shares of the company’s stock worth $1,635,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 82.69% of the company’s stock.

McKesson Stock Up 0.6 %

McKesson stock opened at $452.97 on Tuesday. The company’s 50-day moving average price is $447.78 and its 200-day moving average price is $422.51. McKesson Co. has a twelve month low of $331.75 and a twelve month high of $473.18. The company has a market cap of $60.27 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. The firm had revenue of $77.22 billion during the quarter, compared to analysts’ expectations of $76.03 billion. During the same period in the previous year, the company earned $6.06 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, sell-side analysts expect that McKesson Co. will post 27.23 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be given a $0.62 dividend. The ex-dividend date is Thursday, November 30th. This represents a $2.48 annualized dividend and a yield of 0.55%. McKesson’s dividend payout ratio (DPR) is 9.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MCK. Argus raised their target price on shares of McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a report on Monday, October 9th. UBS Group lifted their price target on shares of McKesson from $470.00 to $480.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Mizuho raised their price objective on shares of McKesson from $427.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Evercore ISI raised their price objective on shares of McKesson from $485.00 to $490.00 in a research report on Wednesday, October 11th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $472.83.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $422.58, for a total value of $10,668,454.68. Following the completion of the sale, the chief executive officer now directly owns 92,654 shares of the company’s stock, valued at approximately $39,153,727.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Brian S. Tyler sold 3,938 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $407.00, for a total value of $1,602,766.00. Following the completion of the sale, the chief executive officer now owns 117,900 shares in the company, valued at approximately $47,985,300. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the completion of the sale, the chief executive officer now owns 92,654 shares of the company’s stock, valued at approximately $39,153,727.32. The disclosure for this sale can be found here. Insiders sold a total of 69,082 shares of company stock valued at $30,258,690 in the last three months. Company insiders own 0.21% of the company’s stock.

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.