Charles Schwab Investment Management Inc. Increases Position in McKesson Co. (NYSE:MCK)

Charles Schwab Investment Management Inc. raised its holdings in McKesson Co. (NYSE:MCK) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 790,919 shares of the company’s stock after acquiring an additional 4,550 shares during the period. Charles Schwab Investment Management Inc.’s holdings in McKesson were worth $337,968,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd lifted its position in McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. Mine & Arao Wealth Creation & Management LLC. grew its position in McKesson by 313.3% during the second quarter. Mine & Arao Wealth Creation & Management LLC. now owns 62 shares of the company’s stock valued at $26,000 after acquiring an additional 47 shares during the period. Live Oak Investment Partners acquired a new stake in McKesson during the fourth quarter worth about $30,000. Capital Advisors Ltd. LLC lifted its stake in shares of McKesson by 1,700.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 90 shares of the company’s stock valued at $38,000 after purchasing an additional 85 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in McKesson during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 82.69% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Credit Suisse Group boosted their price objective on McKesson from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Evercore ISI boosted their price target on McKesson from $485.00 to $490.00 in a research report on Wednesday, October 11th. StockNews.com assumed coverage on shares of McKesson in a research report on Thursday, October 5th. They issued a “strong-buy” rating for the company. Finally, Argus lifted their target price on McKesson from $450.00 to $480.00 and gave the stock a “buy” rating in a research report on Monday, October 9th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $469.09.

McKesson Trading Up 1.0 %

Shares of MCK opened at $450.78 on Friday. McKesson Co. has a 52 week low of $331.75 and a 52 week high of $473.18. The firm has a market cap of $59.98 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.56 and a beta of 0.56. The stock has a 50 day moving average of $446.61 and a 200-day moving average of $420.26.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 1st. The company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $6.11 by $0.12. McKesson had a net margin of 1.20% and a negative return on equity of 241.79%. The firm had revenue of $77.22 billion during the quarter, compared to the consensus estimate of $76.03 billion. During the same quarter in the previous year, the company posted $6.06 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 27.23 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, November 30th. McKesson’s dividend payout ratio (DPR) is presently 9.80%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 25,246 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $422.58, for a total transaction of $10,668,454.68. Following the completion of the transaction, the chief executive officer now owns 92,654 shares in the company, valued at approximately $39,153,727.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian S. Tyler sold 25,246 shares of McKesson stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $422.58, for a total value of $10,668,454.68. Following the sale, the chief executive officer now directly owns 92,654 shares in the company, valued at approximately $39,153,727.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 10,521 shares of McKesson stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $460.00, for a total value of $4,839,660.00. Following the sale, the chief executive officer now directly owns 67,408 shares in the company, valued at approximately $31,007,680. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,082 shares of company stock worth $30,258,690. 0.21% of the stock is currently owned by company insiders.

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.