Fidelis Capital Partners LLC Grows Stock Position in McKesson Co. (NYSE:MCK)

Fidelis Capital Partners LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 11.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,707 shares of the company’s stock after acquiring an additional 176 shares during the quarter. Fidelis Capital Partners LLC’s holdings in McKesson were worth $1,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MCK. JPMorgan Chase & Co. boosted its stake in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the period. Putnam Investments LLC increased its stake in shares of McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the period. Swedbank AB bought a new stake in McKesson during the 1st quarter valued at $669,326,000. Boston Partners boosted its position in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the period. Finally, WCM Investment Management LLC grew its holdings in McKesson by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 1,118,029 shares of the company’s stock worth $600,214,000 after acquiring an additional 24,840 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCK. Mizuho upped their price objective 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. Argus upped their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Leerink Partners decreased their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $620.93.

Insider Activity at McKesson

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

McKesson Trading Down 0.0 %

Shares of McKesson stock opened at $508.00 on Monday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a market capitalization of $66.01 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.18 and a beta of 0.44. The business has a fifty day simple moving average of $560.25 and a two-hundred day simple moving average of $557.24.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company 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%. McKesson’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $7.27 EPS. Analysts predict that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 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.