Ieq Capital LLC Buys 861 Shares of McKesson Co. (NYSE:MCK)

Ieq Capital LLC lifted its stake in shares of McKesson Co. (NYSE:MCK) by 12.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,761 shares of the company’s stock after purchasing an additional 861 shares during the period. Ieq Capital LLC’s holdings in McKesson were worth $4,532,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MCK. LRI Investments LLC acquired a new stake in McKesson in the first quarter valued at $28,000. Register Financial Advisors LLC bought a new position in McKesson during the first quarter worth about $29,000. Richardson Financial Services Inc. acquired a new position in McKesson during the fourth quarter worth approximately $31,000. Rise Advisors LLC bought a new stake in McKesson in the first quarter valued at approximately $40,000. Finally, Carolinas Wealth Consulting LLC lifted its position in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCK shares. Leerink Partners dropped their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Argus raised their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Stock Down 0.1 %

MCK stock opened at $507.89 on Friday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The business has a 50-day simple moving average of $560.25 and a 200 day simple moving average of $556.82. The company has a market cap of $65.99 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.27 EPS. On average, analysts anticipate 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 $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 presently 12.69%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was 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 owns 78,586 shares in the company, valued at $44,094,604.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 11,259 shares of company stock valued at $6,635,492. Corporate 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.