McKesson Co. (NYSE:MCK) Stock Position Raised by Sei Investments Co.

Sei Investments Co. lifted its position in McKesson Co. (NYSE:MCK) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 180,886 shares of the company’s stock after buying an additional 10,456 shares during the quarter. Sei Investments Co. owned about 0.14% of McKesson worth $105,642,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in McKesson in the first quarter worth approximately $28,000. Register Financial Advisors LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $29,000. Richardson Financial Services Inc. bought a new stake in McKesson in the fourth quarter worth $31,000. Carolinas Wealth Consulting LLC increased its position in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in McKesson during the fourth quarter valued at about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the transaction, the chief executive officer now owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 11,259 shares of company stock worth $6,635,492. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Bank of America boosted their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Robert W. Baird lowered their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Argus lifted their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Stock Down 0.0 %

Shares of MCK opened at $508.00 on Friday. The stock’s 50-day moving average price is $560.25 and its 200 day moving average price is $557.01. The firm has a market capitalization of $66.01 billion, a price-to-earnings ratio of 22.70, a P/E/G 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.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (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 for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the business posted $7.27 earnings per share. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be issued 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 (DPR) is presently 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.