90 Shares in McKesson Co. (NYSE:MCK) Purchased by Centennial Bank AR

Centennial Bank AR acquired a new position in McKesson Co. (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 90 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors have also bought and sold shares of MCK. Swedbank AB acquired a new stake in McKesson in the 1st quarter valued at about $669,326,000. Bessemer Group Inc. lifted its holdings in McKesson by 3,621.7% in the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after acquiring an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. acquired a new stake in McKesson in the 1st quarter valued at about $97,510,000. Third Point LLC acquired a new stake in McKesson in the 4th quarter valued at about $76,392,000. Finally, American Century Companies Inc. lifted its holdings in McKesson by 134.6% in the 2nd quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock valued at $128,850,000 after acquiring an additional 126,567 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 0.8 %

Shares of McKesson stock opened at $498.48 on Wednesday. The stock has a market capitalization of $64.77 billion, a P/E ratio of 22.27, a PEG ratio of 1.18 and a beta of 0.44. The stock has a 50 day moving average price of $547.33 and a two-hundred day moving average price of $555.33. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm 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 revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.27 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MCK shares. Evercore ISI cut their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Mizuho boosted their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Citigroup cut their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, Leerink Partners cut their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $613.36.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company 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.