McKesson Co. (NYSE:MCK) Holdings Raised by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,335 shares of the company’s stock after purchasing an additional 69 shares during the period. Great Lakes Retirement Inc.’s holdings in McKesson were worth $4,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. Distillate Capital Partners LLC lifted its stake in shares of McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after purchasing an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of McKesson by 50.8% during the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of McKesson by 8.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC bought a new position in shares of McKesson in the 1st quarter valued at approximately $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in McKesson in the 2nd quarter worth approximately $238,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by insiders.

McKesson Price Performance

Shares of MCK stock opened at $501.76 on Thursday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The stock has a fifty day moving average price of $518.29 and a 200 day moving average price of $551.37. The stock has a market cap of $65.20 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released 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. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the firm earned $7.27 EPS. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research 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 was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were issued a $0.71 dividend. The ex-dividend date was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.57%. McKesson’s dividend payout ratio is presently 12.69%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI decreased their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Citigroup dropped their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.86.

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.