McKesson Co. (NYSE:MCK) is Dorsey Wright & Associates’ 8th Largest Position

Dorsey Wright & Associates boosted its position in McKesson Co. (NYSE:MCK) by 0.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,709 shares of the company’s stock after purchasing an additional 27 shares during the period. McKesson comprises 1.8% of Dorsey Wright & Associates’ investment portfolio, making the stock its 8th biggest position. Dorsey Wright & Associates’ holdings in McKesson were worth $6,839,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. RFP Financial Group LLC grew its holdings in McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock valued at $112,000 after buying an additional 17 shares during the last quarter. Modera Wealth Management LLC grew its holdings in McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC grew its holdings in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the last quarter. First Western Trust Bank grew its holdings in McKesson by 2.0% during the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in McKesson by 1.7% during the 1st quarter. Lindbrook Capital LLC now owns 1,133 shares of the company’s stock valued at $608,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was 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 directly owns 86,092 shares of the company’s stock, valued at $50,012,564.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 11,259 shares of company stock valued at $6,635,492. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $488.35 on Friday. The business’s 50-day moving average is $552.67 and its two-hundred day moving average is $555.67. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The firm has a market capitalization of $63.45 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report 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. Finally, Leerink Partners cut their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.