Great Lakes Advisors LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Great Lakes Advisors LLC boosted its stake in McKesson Co. (NYSE:MCK) by 3.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,894 shares of the company’s stock after buying an additional 2,626 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.06% of McKesson worth $46,661,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Sachetta LLC bought a new position in shares of McKesson during the fourth quarter valued at about $27,000. LRI Investments LLC purchased a new position in shares of McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on MCK. Leerink Partners decreased their price objective on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America raised their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird cut their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average target price of $624.93.

McKesson Stock Down 2.1 %

Shares of NYSE MCK traded down $10.58 during midday trading on Friday, reaching $504.17. 1,924,323 shares of the company’s stock traded hands, compared to its average volume of 761,035. The company has a market cap of $65.51 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.29 and a beta of 0.44. McKesson Co. has a one year low of $412.64 and a one year high of $637.51. The stock’s 50 day simple moving average is $574.75 and its 200-day simple moving average is $557.29.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the previous year, the firm posted $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts predict that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other McKesson news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total value of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,859 shares of company stock worth $6,986,810. Insiders own 0.11% of the company’s stock.

McKesson Profile

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.