McKesson Co. (NYSE:MCK) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its holdings in McKesson Co. (NYSE:MCK) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,818 shares of the company’s stock after selling 340 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in McKesson were worth $6,902,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. LRI Investments LLC acquired a new stake in McKesson in the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new position in shares of McKesson in the first quarter worth $29,000. Sachetta LLC acquired a new stake in shares of McKesson during the fourth quarter worth $27,000. Richardson Financial Services Inc. purchased a new stake in shares of McKesson during the fourth quarter valued at $31,000. Finally, Rise Advisors LLC acquired a new position in shares of McKesson in the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.4 %

Shares of McKesson stock opened at $511.62 on Thursday. The firm has a market cap of $66.48 billion, a PE 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 business has a 50-day moving average price of $562.98 and a 200 day moving average price of $557.34.

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

McKesson Increases Dividend

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

Analyst Ratings Changes

A number of analysts have commented on MCK shares. JPMorgan Chase & Co. lifted their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Bank of America upped their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Argus lifted their price objective on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Citigroup cut their price objective 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. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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 dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

About McKesson

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.