CX Institutional Has $5.06 Million Stock Position in McKesson Co. (NYSE:MCK)

CX Institutional increased its holdings in McKesson Co. (NYSE:MCK) by 175.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,228 shares of the company’s stock after acquiring an additional 6,519 shares during the period. CX Institutional’s holdings in McKesson were worth $5,057,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MCK. Swedbank AB purchased a new stake in McKesson in the 1st quarter valued at $669,326,000. Bessemer Group Inc. raised its holdings in shares of McKesson by 3,621.7% in the first quarter. Bessemer Group Inc. now owns 349,395 shares of the company’s stock valued at $187,572,000 after purchasing an additional 340,007 shares during the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of McKesson during the first quarter valued at about $97,510,000. American Century Companies Inc. boosted its holdings in McKesson by 134.6% during the second quarter. American Century Companies Inc. now owns 220,619 shares of the company’s stock worth $128,850,000 after purchasing an additional 126,567 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in McKesson in the 1st quarter worth about $63,774,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup reduced their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Deutsche Bank Aktiengesellschaft lowered their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Robert W. Baird restated a “neutral” rating and set a $531.00 price objective (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, Argus boosted their target price on shares of McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Price Performance

McKesson stock opened at $513.55 on Wednesday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market capitalization of $66.73 billion, a P/E ratio of 22.95, a PEG ratio of 1.17 and a beta of 0.44. The business has a fifty day moving average price of $524.64 and a 200-day moving average price of $552.71.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the firm earned $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid 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 annualized dividend and a yield of 0.55%. McKesson’s dividend payout ratio is currently 12.69%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

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.