Dorsey Wright & Associates raised its position in shares of McKesson Co. (NYSE:MCK – Get Rating) by 41.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,413 shares of the company's stock after purchasing an additional 5,117 shares during the period. McKesson accounts for approximately 1.7% of Dorsey Wright & Associates' holdings, making the stock its 7th biggest position. Dorsey Wright & Associates' holdings in McKesson were worth $5,680,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in McKesson by 2.1% during the 4th quarter. BlackRock Inc. now owns 13,171,252 shares of the company's stock valued at $3,273,976,000 after purchasing an additional 269,506 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of McKesson by 4.1% in the 1st quarter. JPMorgan Chase & Co. now owns 5,965,095 shares of the company's stock worth $1,826,096,000 after acquiring an additional 235,874 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of McKesson by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,976,639 shares of the company's stock worth $605,109,000 after acquiring an additional 5,265 shares during the period. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter worth approximately $386,729,000. Finally, Acadian Asset Management LLC lifted its stake in shares of McKesson by 360.8% in the 1st quarter. Acadian Asset Management LLC now owns 1,077,083 shares of the company's stock worth $329,689,000 after acquiring an additional 843,348 shares during the period. 86.43% of the stock is owned by institutional investors and hedge funds.
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McKesson Price Performance
McKesson stock traded down $7.53 during trading hours on Thursday, hitting $341.41. The company had a trading volume of 17,551 shares, compared to its average volume of 1,031,360. The firm has a market capitalization of $49.07 billion, a P/E ratio of 35.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.59. The firm's fifty day moving average is $353.06 and its 200-day moving average is $330.05. McKesson Co. has a fifty-two week low of $193.89 and a fifty-two week high of $375.23.
McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $5.83 earnings per share for the quarter, beating the consensus estimate of $5.31 by $0.52. The firm had revenue of $67.15 billion for the quarter, compared to analyst estimates of $63.87 billion. McKesson had a net
margin of 0.52% and a negative return on equity of 350.22%. Analysts anticipate that McKesson Co. will post 24.42 earnings per share for the current year.
McKesson Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 0.63%. This is an increase from McKesson's previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, August 31st. McKesson's payout ratio is currently 22.83%.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Credit Suisse Group upped their price target on shares of McKesson from $377.00 to $385.00 and gave the stock an "outperform" rating in a research note on Monday, August 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of McKesson from $378.00 to $409.00 in a research note on Monday, August 8th. Mizuho boosted their target price on shares of McKesson from $331.00 to $345.00 and gave the stock a "neutral" rating in a report on Thursday, August 4th. Argus boosted their target price on shares of McKesson from $370.00 to $430.00 and gave the stock a "buy" rating in a report on Monday, September 12th. Finally, UBS Group boosted their target price on shares of McKesson from $380.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $352.46.
Insiders Place Their Bets
In other McKesson news, EVP Lori A. Schechter sold 7,500 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the sale, the executive vice president now directly owns 11,678 shares of the company's stock, valued at $4,016,531.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Lori A. Schechter sold 7,500 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the sale, the executive vice president now directly owns 11,678 shares of the company's stock, valued at $4,016,531.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 1,300 shares of the business's stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total transaction of $477,373.00. Following the completion of the sale, the executive vice president now directly owns 2,544 shares of the company's stock, valued at $934,182.24. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.
McKesson Profile
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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.
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