Westpac Banking Corp Purchases 34,620 Shares of McKesson Co. (MCK)

Westpac Banking Corp increased its position in McKesson Co. (NYSE:MCK) by 38.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,962 shares of the company’s stock after purchasing an additional 34,620 shares during the period. Westpac Banking Corp owned approximately 0.06% of McKesson worth $16,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Fort L.P. bought a new position in shares of McKesson in the 2nd quarter worth $110,000. Flagship Harbor Advisors LLC bought a new position in McKesson during the 2nd quarter valued at $118,000. Reilly Financial Advisors LLC lifted its stake in McKesson by 506.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 898 shares of the company’s stock valued at $119,000 after acquiring an additional 750 shares in the last quarter. Bray Capital Advisors bought a new position in McKesson during the 3rd quarter valued at $123,000. Finally, FNY Investment Advisers LLC lifted its stake in McKesson by 88.6% during the 3rd quarter. FNY Investment Advisers LLC now owns 1,120 shares of the company’s stock valued at $148,000 after acquiring an additional 526 shares in the last quarter. Institutional investors own 89.97% of the company’s stock.

In other news, Director N Anthony Coles sold 1,350 shares of the firm’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $128.69, for a total transaction of $173,731.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

Several equities analysts have weighed in on the company. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, November 16th. Barclays dropped their price objective on McKesson from $150.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 26th. Royal Bank of Canada set a $155.00 price objective on McKesson and gave the company a “hold” rating in a research note on Friday, October 26th. Finally, Mizuho restated a “hold” rating and set a $133.00 price objective on shares of McKesson in a research note on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $150.26.

Shares of McKesson stock opened at $121.16 on Monday. McKesson Co. has a 1 year low of $117.19 and a 1 year high of $178.86. The firm has a market cap of $23.67 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The company has a quick ratio of 0.56, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, October 25th. The company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.28 by $0.32. McKesson had a return on equity of 26.55% and a net margin of 0.06%. The firm had revenue of $53.08 billion during the quarter, compared to analyst estimates of $53.56 billion. Equities analysts expect that McKesson Co. will post 13.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Friday, November 30th. McKesson’s dividend payout ratio is presently 12.36%.

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McKesson 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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