Aristotle Fund L.P. Grows Holdings in McKesson Corporation (MCK)

Aristotle Fund L.P. grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 10.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 137,800 shares of the company’s stock after acquiring an additional 13,400 shares during the period. McKesson Corporation comprises 14.3% of Aristotle Fund L.P.’s holdings, making the stock its 3rd largest holding. Aristotle Fund L.P. owned about 0.07% of McKesson Corporation worth $22,674,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MCK. BlackRock Inc. raised its stake in shares of McKesson Corporation by 2,026.2% during the first quarter. BlackRock Inc. now owns 14,198,977 shares of the company’s stock valued at $2,105,140,000 after acquiring an additional 13,531,173 shares during the last quarter. Ballentine Partners LLC acquired a new stake in McKesson Corporation in the first quarter worth $191,000. Parnassus Investments CA grew its holdings in McKesson Corporation by 310.0% in the first quarter. Parnassus Investments CA now owns 4,280,594 shares of the company’s stock worth $620,727,000 after purchasing an additional 3,236,594 shares during the period. Pzena Investment Management LLC grew its holdings in McKesson Corporation by 1,015.0% in the first quarter. Pzena Investment Management LLC now owns 2,077,104 shares of the company’s stock worth $307,951,000 after purchasing an additional 1,890,815 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in McKesson Corporation by 288.6% in the first quarter. Ameriprise Financial Inc. now owns 1,752,850 shares of the company’s stock worth $259,883,000 after purchasing an additional 1,301,803 shares during the period. 85.28% of the stock is owned by hedge funds and other institutional investors.

McKesson Corporation (NYSE MCK) traded down 1.19% on Friday, hitting $149.88. 2,903,086 shares of the company were exchanged. The stock has a market capitalization of $31.51 billion, a P/E ratio of 6.80 and a beta of 1.16. The company has a 50 day moving average price of $152.20 and a 200-day moving average price of $153.01. McKesson Corporation has a 52 week low of $114.53 and a 52 week high of $169.29.

McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm had revenue of $51.05 billion for the quarter, compared to analysts’ expectations of $51.22 billion. During the same period last year, the company posted $3.50 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. On average, equities analysts expect that McKesson Corporation will post $12.07 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.91%. This is an increase from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio is 6.07%.

In other news, Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $155.65, for a total transaction of $140,085.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,066 shares of company stock worth $473,627 over the last three months. 1.20% of the stock is currently owned by insiders.

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A number of research firms have commented on MCK. UBS AG raised their price target on shares of McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a report on Friday, May 19th. BidaskClub cut shares of McKesson Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Barclays PLC set a $187.00 price target on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Vetr upgraded shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a report on Thursday, May 25th. Finally, TheStreet upgraded shares of McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $171.92.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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