Mackenzie Financial Corp Acquires 1,651 Shares of McKesson Co. (NYSE:MCK)

Mackenzie Financial Corp raised its holdings in McKesson Co. (NYSE:MCK) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 411,353 shares of the company’s stock after purchasing an additional 1,651 shares during the period. Mackenzie Financial Corp’s holdings in McKesson were worth $240,247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MCK. Swedbank AB bought a new position in McKesson during the 1st quarter worth $669,326,000. Bessemer Group Inc. grew its holdings in shares of McKesson by 3,621.7% during the 1st quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock worth $187,572,000 after purchasing an additional 340,007 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson in the first quarter worth $97,510,000. Third Point LLC acquired a new position in McKesson in the fourth quarter valued at about $76,392,000. Finally, American Century Companies Inc. lifted its position in McKesson by 134.6% during the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after purchasing an additional 126,567 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.0 %

Shares of NYSE:MCK opened at $479.05 on Friday. The firm has a market cap of $62.12 billion, a P/E ratio of 21.41, a P/E/G 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 business has a fifty day simple moving average of $554.66 and a 200 day simple moving average of $556.20.

McKesson (NYSE:MCK) last posted 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 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 firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $7.27 earnings per share. As a group, equities research analysts expect that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 11,259 shares of company stock worth $6,635,492 over the last quarter. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MCK shares. Argus upped their price target on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Barclays boosted their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America lifted 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $613.36.

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.