Hsbc Holdings PLC Purchases 6,377 Shares of McKesson Co. (NYSE:MCK)

Hsbc Holdings PLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 2.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 275,077 shares of the company’s stock after buying an additional 6,377 shares during the quarter. Hsbc Holdings PLC owned about 0.21% of McKesson worth $161,123,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MCK. Waterloo Capital L.P. bought a new stake in McKesson in the 2nd quarter valued at about $246,000. Zega Financial LLC acquired a new stake in shares of McKesson in the second quarter valued at approximately $1,829,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of McKesson by 12.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,222 shares of the company’s stock valued at $8,747,000 after buying an additional 1,654 shares during the period. Tredje AP fonden grew its position in McKesson by 5.8% during the second quarter. Tredje AP fonden now owns 104,969 shares of the company’s stock worth $61,306,000 after buying an additional 5,764 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in McKesson by 16.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 65,412 shares of the company’s stock worth $38,176,000 after acquiring an additional 9,263 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of MCK stock opened at $511.62 on Thursday. The firm has a market capitalization of $66.48 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.18 and a beta of 0.44. McKesson Co. has a twelve month low of $428.50 and a twelve month high of $637.51. The stock’s fifty day simple moving average is $562.98 and its 200 day simple moving average is $557.34.

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

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

MCK has been the topic of several analyst reports. Robert W. Baird reduced their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Leerink Partners reduced their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Finally, Argus boosted their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Company 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.