1832 Asset Management L.P. Acquires 72,010 Shares of McKesson Co. (NYSE:MCK)

1832 Asset Management L.P. boosted its holdings in McKesson Co. (NYSE:MCK) by 37,900.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,200 shares of the company’s stock after buying an additional 72,010 shares during the period. 1832 Asset Management L.P. owned approximately 0.06% of McKesson worth $42,168,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MCK. RFP Financial Group LLC grew its stake in shares of McKesson by 9.8% in the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after acquiring an additional 17 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares during the period. Larson Financial Group LLC grew its position in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after purchasing an additional 17 shares during the last quarter. First Western Trust Bank increased its holdings in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the period. Finally, Lindbrook Capital LLC lifted its stake in shares of McKesson by 1.7% in the first quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Argus boosted their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Robert W. Baird reduced their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Bank of America boosted their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Finally, Citigroup reduced their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Trading Down 0.0 %

NYSE:MCK opened at $508.00 on Monday. The stock has a market capitalization of $66.01 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a 50 day moving average of $560.25 and a 200-day moving average of $557.24.

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

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 11,259 shares of company stock valued at $6,635,492. 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.