McKesson Co. (NYSE:MCK) Stock Holdings Increased by King Luther Capital Management Corp

King Luther Capital Management Corp grew its position in shares of McKesson Co. (NYSE:MCK) by 1,279.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,359 shares of the company’s stock after buying an additional 13,318 shares during the period. King Luther Capital Management Corp’s holdings in McKesson were worth $8,386,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of McKesson during the first quarter valued at approximately $28,000. Register Financial Advisors LLC bought a new position in McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. bought a new position in McKesson during the 4th quarter worth $31,000. Carolinas Wealth Consulting LLC increased its position in McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after buying an additional 24 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in McKesson in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $507.89 on Friday. The company has a market capitalization of $65.99 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 1.18 and a beta of 0.44. The company has a 50-day moving average of $560.25 and a 200-day moving average of $556.82. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company posted $7.27 EPS. Sell-side analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 30th. 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 dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

Several research firms have commented on MCK. Robert W. Baird decreased their target price on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Citigroup reduced their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Argus raised their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.93.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last quarter, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is owned by insiders.

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.