McKesson Co. (NYSE:MCK) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC grew its holdings in McKesson Co. (NYSE:MCK) by 77.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220 shares of the company’s stock after acquiring an additional 96 shares during the period. Headlands Technologies LLC’s holdings in McKesson were worth $128,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of MCK. Steigerwald Gordon & Koch Inc. lifted its position in shares of McKesson by 53.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 33,804 shares of the company’s stock worth $19,743,000 after purchasing an additional 11,832 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in McKesson by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 2,967 shares of the company’s stock valued at $1,733,000 after acquiring an additional 41 shares during the last quarter. Gryphon Financial Partners LLC purchased a new stake in McKesson in the second quarter valued at $278,000. Van Hulzen Asset Management LLC lifted its position in McKesson by 0.9% in the second quarter. Van Hulzen Asset Management LLC now owns 4,737 shares of the company’s stock valued at $2,767,000 after acquiring an additional 40 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in McKesson by 25.9% in the second quarter. Daiwa Securities Group Inc. now owns 17,244 shares of the company’s stock valued at $10,071,000 after acquiring an additional 3,547 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson 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 directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 11,259 shares of company stock valued at $6,635,492 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCK shares. Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Leerink Partners dropped their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Citigroup dropped their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Evercore ISI lowered their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $620.93.

McKesson Stock Up 1.5 %

McKesson stock opened at $518.81 on Monday. McKesson Co. has a 52-week low of $417.65 and a 52-week high of $637.51. The firm has a fifty day moving average of $567.33 and a 200-day moving average of $557.76. The firm has a market capitalization of $67.28 billion, a P/E ratio of 23.18, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.27 earnings per share. On average, research analysts expect that McKesson Co. will post 32.11 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

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.