Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in McKesson Co. (NYSE:MCK)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in McKesson Co. (NYSE:MCK) by 206.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460 shares of the company’s stock after purchasing an additional 310 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in McKesson were worth $269,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. RFP Financial Group LLC grew its holdings in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC lifted its holdings in McKesson by 2.2% in the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC lifted its holdings in McKesson by 1.6% in the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares in the last quarter. First Western Trust Bank boosted its stake in shares of McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares during the last quarter. Finally, KCM Investment Advisors LLC grew its holdings in shares of McKesson by 1.4% during the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after buying an additional 19 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Evercore ISI decreased their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Bank of America upped their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Mizuho raised their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Barclays upped their price objective 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. Five 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 presently has an average rating of “Moderate Buy” and an average price target of $610.86.

McKesson Price Performance

Shares of MCK opened at $495.09 on Wednesday. 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 is $538.27 and its two-hundred day moving average is $554.00. The stock has a market cap of $64.33 billion, a PE ratio of 21.81, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share 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%. McKesson’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 EPS. On average, research analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

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.