Gradient Investments LLC Buys 60 Shares of McKesson Co. (NYSE:MCK)

Gradient Investments LLC boosted its stake in shares of McKesson Co. (NYSE:MCKGet Rating) by 44.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 195 shares of the company’s stock after purchasing an additional 60 shares during the period. Gradient Investments LLC’s holdings in McKesson were worth $64,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC bought a new position in McKesson during the fourth quarter valued at about $25,000. Covestor Ltd grew its position in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. Riverview Trust Co bought a new position in McKesson during the first quarter valued at about $28,000. Core Alternative Capital grew its position in McKesson by 1,257.1% during the first quarter. Core Alternative Capital now owns 95 shares of the company’s stock valued at $29,000 after buying an additional 88 shares during the period. Finally, Lansing Street Advisors purchased a new stake in McKesson during the first quarter valued at about $31,000. Institutional investors own 86.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of McKesson from $370.00 to $403.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Robert W. Baird upped their price objective on shares of McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. Cowen upped their price objective on shares of McKesson to $384.00 in a report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of McKesson from $378.00 to $409.00 in a report on Monday, August 8th. Finally, Mizuho upped their price objective on shares of McKesson from $331.00 to $345.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $352.46.

McKesson Trading Down 1.0 %

Shares of McKesson stock opened at $345.56 on Wednesday. McKesson Co. has a 12-month low of $193.89 and a 12-month high of $375.23. The company has a market cap of $49.67 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 1.41 and a beta of 0.59. The company’s 50-day moving average price is $350.60 and its 200-day moving average price is $327.48.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, August 31st. McKesson’s dividend payout ratio is presently 22.83%.

Insider Transactions at McKesson

In related news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the sale, the executive vice president now directly owns 11,678 shares of the company’s stock, valued at $4,016,531.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the sale, the executive vice president now directly owns 11,678 shares of the company’s stock, valued at $4,016,531.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $367.21, for a total transaction of $477,373.00. Following the completion of the sale, the executive vice president now directly owns 2,544 shares in the company, valued at $934,182.24. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

About McKesson

(Get Rating)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

See Also

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Co. (NYSE:MCKGet Rating).

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.