Brown Brothers Harriman & Co. Raises Stock Holdings in McKesson Co. (NYSE:MCK)

Brown Brothers Harriman & Co. raised its position in shares of McKesson Co. (NYSE:MCK) by 5.9% during the 2nd quarter, Holdings Channel reports. The fund owned 1,902 shares of the company’s stock after purchasing an additional 106 shares during the period. Brown Brothers Harriman & Co.’s holdings in McKesson were worth $1,111,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sachetta LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in shares of McKesson during the 1st quarter worth approximately $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in McKesson during the 4th quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. raised its holdings in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock valued at $35,000 after buying an additional 50 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MCK has been the topic of several recent research reports. Leerink Partners decreased their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Evercore ISI decreased their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Mizuho increased their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $620.93.

McKesson Stock Up 0.2 %

MCK stock opened at $519.82 on Tuesday. The business’s fifty day simple moving average is $565.94 and its two-hundred day simple moving average is $557.75. McKesson Co. has a twelve month low of $422.15 and a twelve month high of $637.51. The firm has a market cap of $67.41 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.27 EPS. Research analysts expect that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

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

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the transaction, the chief executive officer now owns 86,092 shares in the company, valued at $50,012,564.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.

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.