Camden National Bank Makes New $318,000 Investment in McKesson Co. (NYSE:MCK)

Camden National Bank bought a new stake in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 644 shares of the company’s stock, valued at approximately $318,000.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in 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 during the last quarter. Legal & General Group Plc raised its position in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after purchasing an additional 36,583 shares during the period. Swedbank AB bought a new stake in shares of McKesson in the first quarter valued at approximately $669,326,000. Boston Partners boosted its holdings in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares during the period. Finally, AQR Capital Management LLC grew its stake in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after buying an additional 62,875 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.8 %

MCK opened at $623.19 on Friday. The stock has a market capitalization of $79.11 billion, a P/E ratio of 32.27, a PEG ratio of 1.36 and a beta of 0.44. The stock has a 50-day moving average price of $530.98 and a 200-day moving average price of $557.36. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.23 earnings per share. On average, equities research analysts predict that McKesson Co. will post 32.78 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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. The trade was a 4.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MCK shares. JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Citigroup upped their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Mizuho increased their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

About McKesson

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.