Meeder Asset Management Inc. Increases Stake in McKesson Co. (NYSE:MCK)

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Meeder Asset Management Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 1,445.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,344 shares of the company’s stock after purchasing an additional 14,351 shares during the quarter. Meeder Asset Management Inc.’s holdings in McKesson were worth $2,098,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Mainstay Capital Management LLC ADV lifted its stake in McKesson by 6.1% during the third quarter. Mainstay Capital Management LLC ADV now owns 9,268 shares of the company’s stock worth $1,264,000 after purchasing an additional 530 shares during the last quarter. Vista Private Wealth Partners. LLC purchased a new stake in McKesson during the third quarter worth approximately $35,000. Advisor Partners LLC lifted its stake in McKesson by 9.3% during the third quarter. Advisor Partners LLC now owns 4,656 shares of the company’s stock worth $636,000 after purchasing an additional 397 shares during the last quarter. CIBC Private Wealth Group LLC lifted its stake in McKesson by 14.3% during the third quarter. CIBC Private Wealth Group LLC now owns 24,513 shares of the company’s stock worth $3,350,000 after purchasing an additional 3,069 shares during the last quarter. Finally, PGGM Investments lifted its stake in McKesson by 65.6% during the third quarter. PGGM Investments now owns 515,810 shares of the company’s stock worth $70,491,000 after purchasing an additional 204,315 shares during the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.

In other news, Director M Christine Jacobs sold 1,296 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $146.65, for a total value of $190,058.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Sundeep G. Reddy sold 422 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the transaction, the senior vice president now directly owns 1,268 shares in the company, valued at approximately $182,325.72. The disclosure for this sale can be found here. In the last three months, insiders sold 10,218 shares of company stock worth $1,421,738. Corporate insiders own 0.88% of the company’s stock.

Several research firms have commented on MCK. ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th. Wolfe Research lowered McKesson from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 5th. Morgan Stanley lifted their price target on McKesson from $130.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. began coverage on McKesson in a research report on Monday, July 22nd. They set an “overweight” rating and a $164.00 price target on the stock. Finally, Guggenheim began coverage on McKesson in a research report on Monday, July 22nd. They set a “neutral” rating and a $152.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $147.20.

NYSE:MCK opened at $149.94 on Friday. The firm has a market cap of $25.55 billion, a P/E ratio of 11.05, a PEG ratio of 1.38 and a beta of 1.14. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14. The stock’s 50 day simple moving average is $139.18 and its 200-day simple moving average is $133.30. McKesson Co. has a 12-month low of $106.11 and a 12-month high of $151.06.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.27. The business had revenue of $55.73 billion for the quarter, compared to analyst estimates of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 earnings per share. Research analysts forecast that McKesson Co. will post 14.39 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a $0.41 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from McKesson’s previous quarterly dividend of $0.39. McKesson’s payout ratio is presently 12.09%.

McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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