AQR Capital Management LLC Purchases 62,875 Shares of McKesson Co. (NYSE:MCK)

AQR Capital Management LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 7.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 857,611 shares of the company’s stock after purchasing an additional 62,875 shares during the period. McKesson comprises 0.8% of AQR Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. AQR Capital Management LLC owned approximately 0.66% of McKesson worth $500,879,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MCK. LRI Investments LLC bought a new stake in shares of McKesson in the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new stake in McKesson in the first quarter valued at approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at approximately $31,000. Carolinas Wealth Consulting LLC raised its holdings in McKesson by 42.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $40,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $479.24 on Thursday. The stock has a market cap of $62.15 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm’s 50-day simple moving average is $556.72 and its 200 day simple moving average is $556.74.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $7.27 earnings per share. On average, sell-side analysts predict that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently declared 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 positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI cut their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Barclays lifted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $613.36.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, 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 legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 11,259 shares of company stock worth $6,635,492. 0.11% of the stock is owned by insiders.

McKesson Company 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.