Beck Capital Management LLC Acquires 73 Shares of McKesson Co. (NYSE:MCK)

Beck Capital Management LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,846 shares of the company’s stock after purchasing an additional 73 shares during the quarter. McKesson comprises 1.1% of Beck Capital Management LLC’s holdings, making the stock its 29th largest holding. Beck Capital Management LLC’s holdings in McKesson were worth $3,998,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in McKesson in the first quarter worth $669,326,000. TD Asset Management Inc boosted its position in shares of McKesson by 202.8% during the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock worth $278,778,000 after purchasing an additional 403,312 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after buying an additional 340,007 shares during the period. Bristol Gate Capital Partners Inc. bought a new stake in McKesson in the 1st quarter valued at about $97,510,000. Finally, Third Point LLC acquired a new position in McKesson during the 4th quarter worth approximately $76,392,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Finally, Evercore ISI lowered their target price on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $620.93.

McKesson Stock Down 0.0 %

Shares of NYSE MCK opened at $508.00 on Monday. The company has a market capitalization of $66.01 billion, a PE ratio of 22.70, a PEG ratio of 1.18 and a beta of 0.44. The stock’s 50 day moving average price is $560.25 and its 200-day moving average price is $557.24. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last announced 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. 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.27 EPS. As a group, research analysts expect 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 given 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 yield of 0.56%. McKesson’s payout ratio is currently 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 in the last three months. Company 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.