Canada Pension Plan Investment Board Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Canada Pension Plan Investment Board raised its stake in shares of McKesson Co. (NYSE:MCK) by 6.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 264,335 shares of the company’s stock after acquiring an additional 15,423 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of McKesson worth $154,382,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. LRI Investments LLC purchased a new position in shares of McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC bought a new position in shares of McKesson during the 1st quarter valued at approximately $29,000. Richardson Financial Services Inc. bought a new stake in McKesson during the 4th quarter worth approximately $31,000. Carolinas Wealth Consulting LLC lifted its holdings in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares in the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in shares of McKesson in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.1 %

Shares of NYSE:MCK opened at $507.89 on Friday. The company has a market cap of $65.99 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a 50-day moving average price of $560.25 and a 200 day moving average price of $556.82.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping 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 company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the company earned $7.27 earnings per share. McKesson’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently announced 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 represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Leerink Partners decreased their price objective 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. JPMorgan Chase & Co. raised their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Argus upped their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Citigroup decreased their target price on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Robert W. Baird dropped their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is currently owned by company insiders.

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.