QV Investors Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

QV Investors Inc. increased its position in McKesson Co. (NYSE:MCK) by 0.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,499 shares of the company’s stock after buying an additional 20 shares during the quarter. QV Investors Inc.’s holdings in McKesson were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC acquired a new stake in shares of McKesson in the first quarter worth $28,000. Register Financial Advisors LLC acquired a new stake in McKesson in the 1st quarter valued at $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson in the 4th quarter valued at $31,000. Rise Advisors LLC acquired a new position in shares of McKesson during the first quarter worth about $40,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the third quarter worth about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Bank of America boosted their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Finally, Leerink Partners lowered 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. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Trading Up 0.8 %

Shares of NYSE MCK opened at $513.55 on Wednesday. The business has a 50 day simple moving average of $524.64 and a 200-day simple moving average of $552.71. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a market capitalization of $66.73 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping 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 company had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the company earned $7.27 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The business 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 0.55%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is presently 12.69%.

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.