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

ING Groep NV grew its stake in McKesson Co. (NYSE:MCK) by 269.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,993 shares of the company’s stock after buying an additional 74,402 shares during the period. ING Groep NV owned 0.08% of McKesson worth $50,427,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC bought a new position in McKesson during the 1st quarter worth approximately $28,000. Wolff Wiese Magana LLC raised its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. acquired a new position in McKesson in the second quarter valued at $52,000. Finally, Centennial Bank AR bought a new stake in McKesson during the second quarter valued at $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Citigroup boosted their target price on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.4 %

Shares of MCK traded down $8.60 on Thursday, reaching $616.00. The company’s stock had a trading volume of 190,214 shares, compared to its average volume of 821,424. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The stock has a market capitalization of $78.20 billion, a PE ratio of 32.35, a PEG ratio of 1.33 and a beta of 0.44. The firm has a fifty day moving average of $516.06 and a 200-day moving average of $553.41.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’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 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is 14.71%.

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.