Lindbrook Capital LLC Acquires 109 Shares of McKesson Co. (NYSE:MCK)

Lindbrook Capital LLC lifted its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,114 shares of the company’s stock after acquiring an additional 109 shares during the period. Lindbrook Capital LLC’s holdings in McKesson were worth $516,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in McKesson by 16.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares in the last quarter. Morgan Stanley boosted its stake in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares during the last quarter. Norges Bank purchased a new position in McKesson in the fourth quarter valued at about $633,960,000. Northern Trust Corp boosted its stake in McKesson by 3.3% in the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after acquiring an additional 50,265 shares during the last quarter. Finally, Boston Partners boosted its stake in McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after acquiring an additional 133,351 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 1.2 %

Shares of MCK opened at $524.83 on Monday. The stock has a market capitalization of $68.97 billion, a P/E ratio of 23.78, a PEG ratio of 1.42 and a beta of 0.45. The firm has a fifty day simple moving average of $524.91 and a two-hundred day simple moving average of $486.96. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. McKesson’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $6.90 EPS. Sell-side analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. UBS Group boosted their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Argus upped their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Barclays assumed coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.50.

View Our Latest Stock Report on McKesson

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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