McKesson Co. (NYSE:MCK) Shares Acquired by Czech National Bank

Czech National Bank boosted its position in McKesson Co. (NYSE:MCK) by 7.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,771 shares of the company’s stock after purchasing an additional 1,650 shares during the quarter. Czech National Bank’s holdings in McKesson were worth $14,467,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MCK. Mechanics Bank Trust Department raised its holdings in shares of McKesson by 12.5% in the 2nd quarter. Mechanics Bank Trust Department now owns 3,824 shares of the company’s stock worth $2,233,000 after purchasing an additional 425 shares in the last quarter. IAM Advisory LLC increased its position in shares of McKesson by 0.5% in the second quarter. IAM Advisory LLC now owns 3,956 shares of the company’s stock worth $2,311,000 after acquiring an additional 21 shares in the last quarter. Thrive Wealth Management LLC increased its position in shares of McKesson by 57.4% in the second quarter. Thrive Wealth Management LLC now owns 1,497 shares of the company’s stock worth $874,000 after acquiring an additional 546 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of McKesson by 1,215.0% in the second quarter. Sound Income Strategies LLC now owns 263 shares of the company’s stock worth $154,000 after acquiring an additional 243 shares in the last quarter. Finally, Cypress Wealth Services LLC purchased a new position in shares of McKesson in the second quarter worth approximately $213,000. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Bank of America lifted their target price on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barclays boosted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Mizuho lifted their target price on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $609.79.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 704 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the completion of the sale, the executive vice president now directly owns 2,215 shares of the company’s stock, valued at $1,236,169.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,713 shares of company stock valued at $18,702,605. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 1.8 %

Shares of NYSE MCK traded up $9.60 during trading on Monday, reaching $550.75. The company had a trading volume of 196,514 shares, compared to its average volume of 732,692. The company’s fifty day moving average price is $591.44 and its 200-day moving average price is $551.04. McKesson Co. has a 12 month low of $404.72 and a 12 month high of $637.51. The stock has a market cap of $71.56 billion, a P/E ratio of 24.18, a PEG ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the company posted $7.27 EPS. The business’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts predict that McKesson Co. will post 31.68 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. This represents a $2.84 annualized dividend and a dividend yield of 0.52%. McKesson’s dividend payout ratio is presently 12.69%.

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.