McKesson Co. (NYSE:MCK) Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC lifted its holdings in McKesson Co. (NYSE:MCK) by 77.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220 shares of the company’s stock after purchasing an additional 96 shares during the period. Headlands Technologies LLC’s holdings in McKesson were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in MCK. Avantax Advisory Services Inc. increased its position in shares of McKesson by 20.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 1,847 shares of the company’s stock worth $855,000 after acquiring an additional 308 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of McKesson during the fourth quarter worth approximately $713,000. Navellier & Associates Inc. acquired a new stake in shares of McKesson during the fourth quarter worth approximately $201,000. Norges Bank acquired a new stake in shares of McKesson during the fourth quarter worth approximately $1,024,140,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of McKesson by 28.3% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,867 shares of the company’s stock worth $6,420,000 after purchasing an additional 3,062 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 11,259 shares of company stock valued at $6,635,492 in the last 90 days. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on MCK. Evercore ISI decreased 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 lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Leerink Partners reduced their target price on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Argus lifted their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.93.

McKesson Stock Up 1.5 %

Shares of McKesson stock opened at $518.81 on Monday. The stock has a market capitalization of $67.28 billion, a P/E ratio of 23.18, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The company has a 50-day simple moving average of $567.33 and a 200 day simple moving average of $557.76. McKesson Co. has a 12-month low of $417.65 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 business had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $7.27 EPS. On average, equities analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

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.