Jacobs Levy Equity Management Inc. Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Jacobs Levy Equity Management Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 610,043 shares of the company’s stock after purchasing an additional 16,102 shares during the period. McKesson comprises about 1.2% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 10th biggest position. Jacobs Levy Equity Management Inc.’s holdings in McKesson were worth $347,670,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new position in McKesson in the fourth quarter worth $33,000. Atala Financial Inc acquired a new stake in shares of McKesson in the fourth quarter valued at $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the fourth quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, Morgan Stanley boosted their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $686.69.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock valued at $10,855,706. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.6 %

McKesson stock opened at $694.12 on Friday. The firm has a market capitalization of $86.99 billion, a P/E ratio of 31.78, a PEG ratio of 1.29 and a beta of 0.53. The business has a 50-day moving average of $678.24 and a 200-day moving average of $620.91. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $728.48.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.18 earnings per share. Research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio is presently 13.00%.

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.