Dimensional Fund Advisors LP Grows Stock Position in McKesson Co. (NYSE:MCK)

Dimensional Fund Advisors LP grew its stake in McKesson Co. (NYSE:MCK) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 395,150 shares of the company’s stock after buying an additional 21,832 shares during the quarter. Dimensional Fund Advisors LP owned 0.30% of McKesson worth $230,821,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealthspire Advisors LLC boosted its position in McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new position in shares of McKesson in the 1st quarter valued at $5,160,000. Vaughan David Investments LLC IL purchased a new stake in McKesson during the second quarter worth $238,000. Treasurer of the State of North Carolina increased its holdings in McKesson by 6.5% in 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 in the last quarter. Finally, BDF Gestion acquired a new position in shares of McKesson in the second quarter worth about $3,504,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MCK shares. Bank of America raised their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Barclays boosted their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Argus increased 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. Evercore ISI cut 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. Finally, Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. 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 a consensus rating of “Moderate Buy” and an average target price of $620.93.

McKesson Price Performance

MCK opened at $511.62 on Thursday. The firm has a market capitalization of $66.48 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. The company’s 50 day simple moving average is $562.98 and its two-hundred day simple moving average is $557.34. McKesson Co. has a 1-year low of $428.50 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping 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 firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.27 earnings per share. On average, equities analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given 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 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were 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 owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 11,259 shares of company stock valued at $6,635,492 over the last ninety days. 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.