Thrivent Financial for Lutherans Buys 998 Shares of McKesson Co. (NYSE:MCK)

Thrivent Financial for Lutherans raised its stake in McKesson Co. (NYSE:MCK) by 5.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,036 shares of the company’s stock after acquiring an additional 998 shares during the period. Thrivent Financial for Lutherans’ holdings in McKesson were worth $11,117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hilltop Holdings Inc. increased its stake in shares of McKesson by 27.1% during the fourth quarter. Hilltop Holdings Inc. now owns 920 shares of the company’s stock valued at $426,000 after buying an additional 196 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of McKesson by 30.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock valued at $773,000 after buying an additional 386 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of McKesson by 6.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after buying an additional 3,982 shares during the period. TFO Wealth Partners LLC increased its stake in shares of McKesson by 97,900.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,960 shares of the company’s stock valued at $926,000 after buying an additional 1,958 shares during the period. Finally, Roundview Capital LLC increased its stake in shares of McKesson by 34.2% during the fourth quarter. Roundview Capital LLC now owns 4,937 shares of the company’s stock valued at $2,286,000 after buying an additional 1,259 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by company insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $479.24 on Thursday. The company has a market cap of $62.15 billion, a P/E ratio of 21.41, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock’s fifty day moving average price is $556.72 and its 200-day moving average price is $556.74.

McKesson (NYSE:MCK) last announced 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 firm 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 company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company posted $7.27 earnings per share. On average, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.62. 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 0.59%. McKesson’s dividend payout ratio is currently 12.69%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird reissued a “neutral” rating and set a $531.00 target price (down from $603.00) on shares of McKesson in a research note on Tuesday. Barclays upped their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced 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. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company reduced their price target 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. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $613.36.

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.