Financial Insights Inc. Acquires Shares of 265 McKesson Co. (NYSE:MCK)

Financial Insights Inc. acquired a new stake in McKesson Co. (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 265 shares of the company’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of McKesson by 2.9% during the first quarter. BlackRock Inc. now owns 14,379,352 shares of the company’s stock worth $2,804,550,000 after purchasing an additional 409,378 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of McKesson by 6.0% during the first quarter. JPMorgan Chase & Co. now owns 7,636,090 shares of the company’s stock worth $1,489,343,000 after purchasing an additional 434,162 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of McKesson by 4.5% during the second quarter. Pzena Investment Management LLC now owns 3,189,280 shares of the company’s stock worth $609,918,000 after purchasing an additional 138,670 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of McKesson by 2.3% during the first quarter. Geode Capital Management LLC now owns 2,878,047 shares of the company’s stock worth $559,947,000 after purchasing an additional 64,254 shares during the last quarter. Finally, Boston Partners raised its stake in shares of McKesson by 0.6% during the first quarter. Boston Partners now owns 2,855,220 shares of the company’s stock worth $556,911,000 after purchasing an additional 16,522 shares during the last quarter. Institutional investors own 86.16% of the company’s stock.

McKesson stock traded down $5.84 during trading hours on Monday, hitting $201.91. The stock had a trading volume of 19,607 shares, compared to its average volume of 1,078,658. The company has a debt-to-equity ratio of 82.70, a current ratio of 0.99 and a quick ratio of 0.53. The stock has a market capitalization of $31.23 billion, a price-to-earnings ratio of -7.35, a PEG ratio of 1.33 and a beta of 0.88. McKesson Co. has a 1-year low of $141.32 and a 1-year high of $210.00. The stock’s fifty day moving average is $200.69 and its two-hundred day moving average is $194.81.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 4th. The company reported $5.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $1.47. The company had revenue of $62.67 billion for the quarter, compared to analyst estimates of $60.16 billion. McKesson had a positive return on equity of 216.39% and a negative net margin of 1.83%. McKesson’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.77 earnings per share. As a group, sell-side analysts anticipate that McKesson Co. will post 20.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 1st will be issued a $0.47 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, August 31st. This represents a $1.88 annualized dividend and a yield of 0.93%. McKesson’s dividend payout ratio is 10.92%.

In other news, CEO Brian S. Tyler sold 1,467 shares of the stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $203.84, for a total value of $299,033.28. Following the completion of the sale, the chief executive officer now owns 26,106 shares in the company, valued at $5,321,447.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Britt J. Vitalone sold 22,085 shares of the stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $203.75, for a total value of $4,499,818.75. Following the completion of the sale, the chief financial officer now owns 14,356 shares of the company’s stock, valued at approximately $2,925,035. The disclosure for this sale can be found here. Insiders sold 37,971 shares of company stock worth $7,726,342 in the last three months. 0.28% of the stock is owned by corporate insiders.

A number of brokerages recently weighed in on MCK. Deutsche Bank Aktiengesellschaft upped their price objective on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Credit Suisse Group upped their price objective on McKesson from $222.00 to $224.00 and gave the stock a “neutral” rating in a report on Monday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Buy” and a consensus target price of $224.13.

McKesson Company Profile

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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