McKesson Co. (NYSE:MCK) Stock Holdings Lifted by Distillate Capital Partners LLC

Distillate Capital Partners LLC increased its holdings in McKesson Co. (NYSE:MCK) by 127,542.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,740 shares of the company’s stock after buying an additional 35,712 shares during the period. McKesson comprises approximately 1.1% of Distillate Capital Partners LLC’s holdings, making the stock its 22nd biggest position. Distillate Capital Partners LLC’s holdings in McKesson were worth $20,874,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 86,092 shares in the company, valued at $50,012,564.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last 90 days. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Citigroup decreased their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Bank of America increased their price target on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Finally, Evercore ISI cut their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Stock Down 0.6 %

NYSE MCK opened at $505.00 on Tuesday. The company has a 50 day moving average price of $558.79 and a two-hundred day moving average price of $557.07. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market capitalization of $65.62 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

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

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a $0.71 dividend. 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%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s 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.