McKesson Co. (NYSE:MCK) Stock Position Lifted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC increased its stake in McKesson Co. (NYSE:MCK) by 21.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,545 shares of the company’s stock after purchasing an additional 2,363 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in McKesson were worth $7,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of McKesson during the first quarter valued at approximately $28,000. Register Financial Advisors LLC acquired a new position in shares of McKesson in the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. bought a new stake in shares of McKesson in the 4th quarter worth approximately $31,000. Carolinas Wealth Consulting LLC boosted its holdings 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 in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in McKesson in the fourth quarter worth approximately $40,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s 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 directly owns 82,339 shares in the company, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 over the last 90 days. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.0 %

NYSE MCK opened at $508.00 on Monday. The firm has a 50-day moving average price of $560.25 and a two-hundred day moving average price of $557.24. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The company has a market capitalization of $66.01 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The business 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%. McKesson’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 firm earned $7.27 earnings per share. Equities 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. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. 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. Leerink Partners decreased their price objective on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $620.93.

McKesson Company 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.