McKesson Co. (NYSE:MCK) Stock Holdings Increased by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in McKesson Co. (NYSE:MCK) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,192 shares of the company’s stock after buying an additional 1,519 shares during the quarter. ProShare Advisors LLC’s holdings in McKesson were worth $13,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter worth approximately $28,000. Synergy Asset Management LLC acquired a new stake in McKesson in the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter worth approximately $33,000. Atala Financial Inc bought a new position in shares of McKesson in the fourth quarter valued at $34,000. Finally, Graney & King LLC bought a new position 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 Upgrades and Downgrades

Several research analysts have issued reports on the company. Morgan Stanley upped their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Mizuho upped 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 downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $686.69.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

McKesson Stock Performance

MCK opened at $723.05 on Friday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.48. The firm has a market capitalization of $90.62 billion, a PE ratio of 33.11, a P/E/G ratio of 1.29 and a beta of 0.53. The company has a fifty day moving average price of $683.14 and a two-hundred day moving average price of $626.73.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson’s dividend payout ratio (DPR) is currently 10.99%.

McKesson 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.