International Assets Investment Management LLC Buys 734,849 Shares of McKesson Co. (NYSE:MCK)

International Assets Investment Management LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 1,020.2% during the 3rd quarter, Holdings Channel reports. The fund owned 806,878 shares of the company’s stock after acquiring an additional 734,849 shares during the period. International Assets Investment Management LLC’s holdings in McKesson were worth $398,937,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sunbelt Securities Inc. boosted its position in shares of McKesson by 10.9% during the 1st quarter. Sunbelt Securities Inc. now owns 846 shares of the company’s stock worth $454,000 after purchasing an additional 83 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in McKesson by 43.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,426 shares of the company’s stock worth $766,000 after acquiring an additional 433 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in McKesson in the first quarter valued at approximately $775,000. Hennessy Advisors Inc. bought a new stake in shares of McKesson during the first quarter valued at approximately $3,006,000. Finally, Register Financial Advisors LLC acquired a new position in shares of McKesson during the first quarter worth approximately $29,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Mizuho boosted their target price on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. increased their price objective on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Stock Performance

MCK opened at $504.96 on Friday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The firm has a 50-day moving average of $518.29 and a 200 day moving average of $551.37. The firm has a market cap of $65.61 billion, a P/E ratio of 22.56, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released 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 net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the firm earned $7.27 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated 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 0.00 % 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. 0.11% of the stock is owned by corporate 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.