Czech National Bank Acquires 1,645 Shares of McKesson Co. (NYSE:MCK)

Czech National Bank boosted its position in McKesson Co. (NYSE:MCK) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,416 shares of the company’s stock after acquiring an additional 1,645 shares during the period. Czech National Bank’s holdings in McKesson were worth $13,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Distillate Capital Partners LLC raised its holdings in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC raised its stake in McKesson by 8.9% during 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 bought a new position in McKesson during the first quarter valued at $5,160,000. Finally, Vaughan David Investments LLC IL bought a new position in McKesson during the second quarter valued at $238,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on MCK shares. Barclays raised their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. 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 research note on Thursday, September 5th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Citigroup cut their price target 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. Finally, Mizuho boosted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $613.36.

McKesson Stock Up 0.7 %

NYSE:MCK traded up $3.15 during trading hours on Friday, reaching $485.42. 905,019 shares of the company’s stock were exchanged, compared to its average volume of 809,899. The business’s 50-day simple moving average is $540.73 and its two-hundred day simple moving average is $554.05. 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 $63.07 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced 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 quarter last year, the firm posted $7.27 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a $0.71 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.59%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is 12.69%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

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.