McKesson Co. (NYSE:MCK) Shares Acquired by Heritage Investors Management Corp

Heritage Investors Management Corp boosted its stake in McKesson Co. (NYSE:MCK) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,191 shares of the company’s stock after acquiring an additional 275 shares during the quarter. Heritage Investors Management Corp’s holdings in McKesson were worth $10,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MCK. Distillate Capital Partners LLC raised its position in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after purchasing an additional 35,712 shares during the period. Chase Investment Counsel Corp grew its position in McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after purchasing an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after buying an additional 133 shares during the period. Councilmark Asset Management LLC acquired a new stake in McKesson during the first quarter valued at $5,160,000. Finally, Vaughan David Investments LLC IL bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $238,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.3 %

MCK traded down $1.48 during trading on Tuesday, hitting $524.46. 10,328 shares of the company traded hands, compared to its average volume of 804,646. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock’s fifty day moving average is $511.62 and its 200 day moving average is $550.62. The firm has a market cap of $68.01 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period last year, the business earned $7.27 earnings per share. McKesson’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

Analyst Upgrades and Downgrades

MCK has been the subject of several analyst reports. Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Baird R W cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $610.86.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

McKesson 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.