Nisa Investment Advisors LLC Purchases 1,678 Shares of McKesson Co. (NYSE:MCK)

Nisa Investment Advisors LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 47,062 shares of the company’s stock after acquiring an additional 1,678 shares during the quarter. Nisa Investment Advisors LLC’s holdings in McKesson were worth $23,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC grew its position in shares of McKesson by 17.9% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,446 shares of the company’s stock valued at $715,000 after purchasing an additional 220 shares in the last quarter. Inscription Capital LLC grew its stake in McKesson by 10.9% during the third quarter. Inscription Capital LLC now owns 782 shares of the company’s stock valued at $387,000 after acquiring an additional 77 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. increased its holdings in shares of McKesson by 249.6% in the third quarter. Klein Pavlis & Peasley Financial Inc. now owns 1,664 shares of the company’s stock worth $823,000 after purchasing an additional 1,188 shares during the period. Custom Index Systems LLC grew its stake in McKesson by 135.4% in the 3rd quarter. Custom Index Systems LLC now owns 1,961 shares of the company’s stock worth $970,000 after buying an additional 1,128 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its position in McKesson by 25.2% in the third quarter. State of Alaska Department of Revenue now owns 23,521 shares of the company’s stock worth $11,628,000 after acquiring an additional 4,735 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft dropped their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Leerink Partners reduced their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $531.00 price objective (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five 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 a consensus rating of “Moderate Buy” and a consensus target price of $610.86.

McKesson Stock Down 1.9 %

NYSE MCK opened at $499.18 on Wednesday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market capitalization of $64.86 billion, a P/E ratio of 22.30, a PEG ratio of 1.18 and a beta of 0.44. The company has a 50-day moving average price of $514.90 and a 200-day moving average price of $550.92.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter last year, the company earned $7.27 earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts anticipate that McKesson Co. will post 31.91 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

About McKesson

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.