Baupost Group LLC MA Takes $76.81 Million Position in McKesson Corporation (MCK)

Baupost Group LLC MA acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the company’s stock, valued at approximately $76,805,000. McKesson makes up 1.0% of Baupost Group LLC MA’s holdings, making the stock its 18th biggest holding. Baupost Group LLC MA owned approximately 0.24% of McKesson as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MCK. BlackRock Inc. lifted its stake in shares of McKesson by 8.0% in the 2nd quarter. BlackRock Inc. now owns 15,330,001 shares of the company’s stock valued at $2,522,396,000 after purchasing an additional 1,131,024 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of McKesson by 15,915.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,020,313 shares of the company’s stock valued at $6,201,000 after purchasing an additional 1,013,942 shares during the period. Renaissance Technologies LLC acquired a new position in shares of McKesson in the 2nd quarter valued at $164,688,000. AJO LP lifted its stake in shares of McKesson by 742.4% in the 2nd quarter. AJO LP now owns 647,052 shares of the company’s stock valued at $106,466,000 after purchasing an additional 570,243 shares during the period. Finally, Kiltearn Partners LLP lifted its stake in shares of McKesson by 59.5% in the 2nd quarter. Kiltearn Partners LLP now owns 1,242,132 shares of the company’s stock valued at $204,380,000 after purchasing an additional 463,303 shares during the period. 88.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on MCK. Morgan Stanley downgraded McKesson from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $184.00 to $172.00 in a research note on Thursday, September 14th. BidaskClub downgraded McKesson from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Needham & Company LLC raised McKesson from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a research note on Friday, September 8th. Mizuho set a $168.00 price target on McKesson and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Royal Bank Of Canada began coverage on McKesson in a research note on Tuesday, September 19th. They issued a “sector perform” rating and a $168.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. McKesson presently has a consensus rating of “Buy” and an average price target of $174.31.

McKesson Corporation (NYSE MCK) traded up $6.70 on Tuesday, hitting $153.09. 2,866,400 shares of the company were exchanged, compared to its average volume of 1,884,303. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.61 and a current ratio of 1.05. McKesson Corporation has a 1-year low of $133.82 and a 1-year high of $169.29. The company has a market cap of $30,518.58, a PE ratio of 12.04, a P/E/G ratio of 1.50 and a beta of 1.23.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, October 26th. The company reported $3.28 EPS for the quarter, beating the Zacks’ consensus estimate of $2.78 by $0.50. The business had revenue of $52.06 billion during the quarter, compared to analysts’ expectations of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.94 EPS. research analysts predict that McKesson Corporation will post 12.16 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 6.45%.

In other McKesson news, SVP Erin M. Lampert sold 900 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $155.65, for a total transaction of $140,085.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John H. Hammergren sold 99,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $153.89, for a total value of $15,235,110.00. Following the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $25,391,850. The disclosure for this sale can be found here. In the last quarter, insiders have sold 949,900 shares of company stock valued at $145,403,445. Corporate insiders own 1.20% of the company’s stock.

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McKesson Company Profile

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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