McKesson Co. (NYSE:MCK) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 14,900.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 900 shares of the company’s stock after purchasing an additional 894 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in McKesson were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the last quarter. Putnam Investments LLC increased its holdings in McKesson by 3.2% in the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the last quarter. Swedbank AB bought a new stake in McKesson in the first quarter valued at about $669,326,000. Boston Partners raised its stake in McKesson by 4.1% during the first 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 in the last quarter. Finally, WCM Investment Management LLC grew its position in shares of 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 in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 0.6 %

NYSE:MCK opened at $505.00 on Tuesday. The firm has a market capitalization of $65.62 billion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm has a 50-day moving average price of $558.79 and a 200 day moving average price of $557.07.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the business earned $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, research analysts expect that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is currently 12.69%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Barclays lifted their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho lifted their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Argus increased their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $620.93.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total value of $2,180,192.76. Following the completion of the sale, the chief executive officer now owns 86,092 shares in the company, valued at approximately $50,012,564.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 in the last 90 days. Corporate 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.