MetLife Investment Management LLC Has $15.65 Million Stake in McKesson Co. (NYSE:MCK)

MetLife Investment Management LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,622 shares of the company’s stock after acquiring an additional 206 shares during the quarter. MetLife Investment Management LLC’s holdings in McKesson were worth $15,649,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in McKesson by 324.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,235,797 shares of the company’s stock worth $1,152,107,000 after purchasing an additional 2,472,584 shares during the last quarter. Norges Bank bought a new position in McKesson during the 4th quarter worth $633,960,000. Envestnet Asset Management Inc. raised its position in McKesson by 587.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,208,193 shares of the company’s stock worth $61,655,000 after purchasing an additional 1,032,363 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock worth $223,628,000 after purchasing an additional 595,518 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in McKesson during the 2nd quarter worth $213,522,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $452.97 on Tuesday. The company has a market capitalization of $60.27 billion, a P/E ratio of 17.90, a price-to-earnings-growth ratio of 1.56 and a beta of 0.56. McKesson Co. has a 52-week low of $331.75 and a 52-week high of $473.18. The business has a 50-day simple moving average of $447.78 and a two-hundred day simple moving average of $422.51.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.62 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.55%. McKesson’s payout ratio is presently 9.80%.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Evercore ISI lifted their price objective on McKesson from $485.00 to $490.00 in a research report on Wednesday, October 11th. Argus lifted their price objective on McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. Morgan Stanley lifted their price objective on McKesson from $459.00 to $480.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. JPMorgan Chase & Co. lifted their price objective on McKesson from $495.00 to $514.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, StockNews.com started coverage on McKesson in a research report on Thursday, October 5th. They issued a “strong-buy” rating for the company. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Buy” and an average target price of $472.83.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,938 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $407.00, for a total value of $1,602,766.00. Following the transaction, the chief executive officer now owns 117,900 shares in the company, valued at approximately $47,985,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian S. Tyler sold 25,246 shares of McKesson stock in a transaction that occurred on 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 sale, the chief executive officer now owns 92,654 shares of the company’s stock, valued at approximately $39,153,727.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,938 shares of McKesson stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $407.00, for a total transaction of $1,602,766.00. Following the completion of the sale, the chief executive officer now directly owns 117,900 shares in the company, valued at approximately $47,985,300. The disclosure for this sale can be found here. Insiders have sold 69,082 shares of company stock worth $30,258,690 in the last 90 days. Insiders own 0.21% of the company’s stock.

McKesson 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.