Great Lakes Advisors LLC grew its holdings in McKesson Co. (NYSE:MCK) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 274,233 shares of the company’s stock after acquiring an additional 6,999 shares during the quarter. McKesson accounts for approximately 0.8% of Great Lakes Advisors LLC’s holdings, making the stock its 28th largest holding. Great Lakes Advisors LLC owned 0.18% of McKesson worth $52,444,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Barings LLC acquired a new stake in McKesson in the second quarter worth about $767,000. Brandes Investment Partners LP raised its stake in shares of McKesson by 14.0% in the second quarter. Brandes Investment Partners LP now owns 461,234 shares of the company’s stock worth $88,206,000 after purchasing an additional 56,762 shares during the last quarter. Vantage Consulting Group Inc purchased a new position in shares of McKesson in the second quarter worth about $249,000. People s United Financial Inc. purchased a new position in shares of McKesson in the second quarter worth about $6,518,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of McKesson by 57.8% in the second quarter. Banque Cantonale Vaudoise now owns 10,583 shares of the company’s stock worth $2,023,000 after purchasing an additional 3,878 shares during the last quarter. 86.16% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently issued reports on MCK. Credit Suisse Group raised their price objective on McKesson from $222.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, August 9th. Deutsche Bank Aktiengesellschaft raised their price objective on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Buy” and a consensus target price of $224.13.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 4th. The company reported $5.56 EPS for the quarter, beating the Zacks’ consensus estimate of $4.09 by $1.47. The business had revenue of $62.67 billion during the quarter, compared to analysts’ expectations of $60.16 billion. McKesson had a positive return on equity of 216.39% and a negative net margin of 1.83%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.77 earnings per share. Sell-side analysts forecast that McKesson Co. will post 20.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 1st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 31st. This is a positive change from McKesson’s previous quarterly dividend of $0.42. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.92%. McKesson’s payout ratio is currently 10.92%.
In other news, CEO Brian S. Tyler sold 1,467 shares of McKesson stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $203.84, for a total value of $299,033.28. Following the sale, the chief executive officer now directly owns 26,106 shares of the company’s stock, valued at $5,321,447.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lori A. Schechter sold 14,419 shares of the business’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $203.03, for a total value of $2,927,489.57. Following the transaction, the executive vice president now directly owns 14,419 shares in the company, valued at approximately $2,927,489.57. The disclosure for this sale can be found here. Insiders sold 37,971 shares of company stock worth $7,726,342 over the last ninety days. Corporate insiders own 0.28% of the company’s stock.
McKesson Company Profile
McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).
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