McKesson Co. (NYSE:MCK) Shares Bought by Heron Bay Capital Management

Heron Bay Capital Management grew its holdings in McKesson Co. (NYSE:MCK) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,541 shares of the company’s stock after purchasing an additional 105 shares during the quarter. McKesson accounts for about 2.3% of Heron Bay Capital Management’s holdings, making the stock its 17th biggest holding. Heron Bay Capital Management’s holdings in McKesson were worth $10,829,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in shares of McKesson by 1.1% in the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after acquiring an additional 46,659 shares in the last quarter. Putnam Investments LLC grew its stake in McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after purchasing an additional 62,242 shares in the last quarter. Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at about $669,326,000. Boston Partners boosted its stake in shares of McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the period. Finally, WCM Investment Management LLC grew its position in shares of McKesson by 2.3% during the first quarter. WCM Investment Management LLC now owns 1,118,029 shares of the company’s stock worth $600,214,000 after buying an additional 24,840 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction 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 Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 11,259 shares of company stock valued at $6,635,492 over the last quarter. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Leerink Partners dropped their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Robert W. Baird decreased their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Finally, Argus boosted their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Price Performance

Shares of McKesson stock opened at $508.00 on Friday. The stock has a market capitalization of $66.01 billion, a price-to-earnings ratio of 22.70, 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 firm’s fifty day simple moving average is $560.25 and its 200-day simple moving average is $557.01.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the business posted $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

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