Charles Schwab Investment Management Inc. Raises Stake in McKesson Co. (NYSE:MCK)

Charles Schwab Investment Management Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 839,239 shares of the company’s stock after buying an additional 4,759 shares during the period. Charles Schwab Investment Management Inc. owned about 0.65% of McKesson worth $414,937,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. acquired a new stake in McKesson in the 3rd quarter valued at $223,000. RW Investment Management LLC acquired a new stake in McKesson during the 3rd quarter valued at $228,000. Pacer Advisors Inc. increased its position in shares of McKesson by 12.6% during the third quarter. Pacer Advisors Inc. now owns 16,344 shares of the company’s stock worth $8,081,000 after acquiring an additional 1,823 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of McKesson by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock valued at $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of McKesson by 0.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 38,963 shares of the company’s stock worth $19,264,000 after buying an additional 291 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $628.15 on Friday. The firm has a fifty day moving average price of $528.89 and a two-hundred day moving average price of $556.74. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The company has a market cap of $79.74 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period last year, the business earned $6.23 earnings per share. Analysts expect that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.45%. McKesson’s payout ratio is 14.71%.

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.