Czech National Bank Has $13.06 Million Position in McKesson Co. (NYSE:MCK)

Czech National Bank lifted its stake in shares of McKesson Co. (NYSE:MCK) by 6.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,416 shares of the company’s stock after acquiring an additional 1,645 shares during the period. Czech National Bank’s holdings in McKesson were worth $13,061,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in shares of McKesson in the first quarter worth about $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter valued at about $29,000. Richardson Financial Services Inc. bought a new stake in shares of McKesson during the 4th quarter valued at about $31,000. Rise Advisors LLC bought a new position in shares of McKesson during the 1st quarter valued at approximately $40,000. Finally, ZRC Wealth Management LLC purchased a new position in McKesson in the 1st quarter worth approximately $48,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related 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 value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MCK shares. Citigroup decreased their price target on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. 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 note on Thursday, August 8th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Leerink Partners lowered their price target on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Mizuho boosted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $613.36.

McKesson Stock Up 0.7 %

Shares of MCK stock traded up $3.15 during mid-day trading on Friday, reaching $485.42. The stock had a trading volume of 905,019 shares, compared to its average volume of 809,899. The firm’s 50 day simple moving average is $540.73 and its 200 day simple moving average is $554.05. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market cap of $63.07 billion, a PE ratio of 21.69, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results 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 firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the previous year, the firm earned $7.27 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

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

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.