Dana Investment Advisors Inc. Has $17.02 Million Stock Position in McKesson Co. (NYSE:MCK)

Dana Investment Advisors Inc. decreased its stake in McKesson Co. (NYSE:MCK) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,149 shares of the company’s stock after selling 2,062 shares during the period. Dana Investment Advisors Inc.’s holdings in McKesson were worth $17,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its stake in McKesson by 30.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,670 shares of the company’s stock worth $773,000 after acquiring an additional 386 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of McKesson by 22.2% during the 4th quarter. Alberta Investment Management Corp now owns 3,300 shares of the company’s stock worth $1,528,000 after purchasing an additional 600 shares in the last quarter. Carolinas Wealth Consulting LLC grew its stake in shares of McKesson by 42.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the period. NEOS Investment Management LLC increased its position in McKesson by 26.9% in the 4th quarter. NEOS Investment Management LLC now owns 1,887 shares of the company’s stock valued at $874,000 after buying an additional 400 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its stake in McKesson by 5.0% during the 4th quarter. Peapack Gladstone Financial Corp now owns 8,681 shares of the company’s stock worth $4,019,000 after buying an additional 414 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 price target (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Finally, Argus lifted their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $613.36.

McKesson Price Performance

Shares of NYSE:MCK opened at $494.42 on Tuesday. The business has a fifty day moving average price of $549.07 and a 200-day moving average price of $555.57. The company has a market capitalization of $64.24 billion, a PE ratio of 22.09, 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.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the company earned $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm 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 dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 11,259 shares of company stock worth $6,635,492. Company insiders own 0.11% of the company’s stock.

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.