McKesson Co. (NYSE:MCK) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of McKesson Co. (NYSE:MCK) by 91.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,926 shares of the company’s stock after purchasing an additional 7,149 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in McKesson were worth $8,716,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Distillate Capital Partners LLC grew its stake in McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after acquiring an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC grew its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the first quarter valued at approximately $5,160,000. Vaughan David Investments LLC IL purchased a new position in McKesson during the second quarter worth approximately $238,000. Finally, BDF Gestion purchased a new position in McKesson during the second quarter worth approximately $3,504,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.8 %

Shares of NYSE:MCK opened at $498.48 on Wednesday. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market capitalization of $64.77 billion, a PE ratio of 22.27, a P/E/G ratio of 1.18 and a beta of 0.44. The firm has a 50 day simple moving average of $547.33 and a 200-day simple moving average of $555.33.

McKesson (NYSE:MCK) last released its quarterly 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. The business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.27 earnings per share. As a group, equities research analysts predict that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Argus raised their target price on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Evercore ISI reduced their target price 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. Barclays increased their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $613.36.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

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.