McKesson Co. (NYSE:MCK) Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC increased its stake in McKesson Co. (NYSE:MCK) by 19.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,615 shares of the company’s stock after buying an additional 262 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in McKesson were worth $867,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Norges Bank purchased a new position in McKesson in the fourth quarter valued at about $1,024,140,000. International Assets Investment Management LLC boosted its holdings in McKesson by 1,044.5% in the fourth quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after purchasing an additional 749,504 shares during the last quarter. TD Asset Management Inc boosted its holdings in McKesson by 202.8% in the fourth quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after purchasing an additional 403,312 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in McKesson by 5,683.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after purchasing an additional 221,125 shares during the last quarter. Finally, Third Point LLC purchased a new position in McKesson in the fourth quarter valued at about $76,392,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.3 %

MCK traded up $1.60 during trading hours on Monday, hitting $578.26. The company’s stock had a trading volume of 769,863 shares, compared to its average volume of 703,200. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17. The firm has a market capitalization of $75.14 billion, a PE ratio of 25.77, a PEG ratio of 1.35 and a beta of 0.45. The company has a 50-day simple moving average of $575.87 and a 200 day simple moving average of $534.96.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the business posted $7.19 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 31.53 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s payout ratio is 11.08%.

Insider Buying and Selling

In related news, CFO Britt J. Vitalone sold 894 shares of McKesson stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the transaction, the chief financial officer now directly owns 16,455 shares in the company, valued at approximately $9,172,017. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 789 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total value of $439,788.60. Following the completion of the sale, the executive vice president now directly owns 7,909 shares of the company’s stock, valued at approximately $4,408,476.60. The disclosure for this sale can be found here. Insiders have sold 29,567 shares of company stock worth $16,691,841 in the last three months. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of analyst reports. Citigroup increased their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Bank of America increased their target price on McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, UBS Group increased their target price on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $596.00.

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.