McKesson Co. (NYSE:MCK) Shares Acquired by King Luther Capital Management Corp

King Luther Capital Management Corp increased its holdings in shares of McKesson Co. (NYSE:MCK) by 1,279.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,359 shares of the company’s stock after acquiring an additional 13,318 shares during the period. King Luther Capital Management Corp’s holdings in McKesson were worth $8,386,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. D.A. Davidson & CO. lifted its stake in shares of McKesson by 77.3% in the fourth quarter. D.A. Davidson & CO. now owns 4,937 shares of the company’s stock valued at $2,286,000 after purchasing an additional 2,153 shares during the period. Assetmark Inc. boosted its stake in shares of McKesson by 16.7% during the 4th quarter. Assetmark Inc. now owns 9,777 shares of the company’s stock worth $4,527,000 after acquiring an additional 1,399 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of McKesson by 37.8% during the 4th quarter. Franklin Resources Inc. now owns 156,181 shares of the company’s stock worth $72,309,000 after acquiring an additional 42,813 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of McKesson by 17.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 25,613 shares of the company’s stock worth $11,858,000 after acquiring an additional 3,844 shares during the period. Finally, FineMark National Bank & Trust increased its stake in McKesson by 17.0% in the 4th quarter. FineMark National Bank & Trust now owns 710 shares of the company’s stock valued at $329,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.1 %

Shares of NYSE:MCK opened at $507.89 on Friday. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock’s 50-day moving average price is $560.25 and its two-hundred day moving average price is $556.82. The firm has a market cap of $65.99 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last issued 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 firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $7.27 earnings per share. As a group, research analysts forecast that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 11,259 shares of company stock worth $6,635,492 over the last three months. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on MCK. Robert W. Baird lowered their target price on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Evercore ISI lowered 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. Barclays lifted their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Bank of America increased their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Finally, Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” 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 has a consensus 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.