Empirical Finance LLC Increases Stock Position in McKesson Co. (NYSE:MCK)

Empirical Finance LLC boosted its stake in shares of McKesson Co. (NYSE:MCK) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,164 shares of the company’s stock after buying an additional 159 shares during the quarter. Empirical Finance LLC’s holdings in McKesson were worth $2,772,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new stake in McKesson during the fourth quarter worth approximately $1,024,140,000. International Assets Investment Management LLC grew its position in McKesson by 1,044.5% in the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock valued at $380,228,000 after buying an additional 749,504 shares during the last quarter. TD Asset Management Inc grew its position in McKesson by 202.8% in the 4th quarter. TD Asset Management Inc now owns 602,138 shares of the company’s stock valued at $278,778,000 after buying an additional 403,312 shares during the last quarter. Assenagon Asset Management S.A. grew its position in McKesson by 5,683.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 225,016 shares of the company’s stock valued at $104,178,000 after buying an additional 221,125 shares during the last quarter. Finally, Third Point LLC purchased a new stake in shares of McKesson during the 4th quarter worth $76,392,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now owns 2,022 shares in the company, valued at $1,183,941.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold a total of 29,567 shares of company stock worth $16,691,841 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MCK. Argus lifted their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Wells Fargo & Company boosted their target price on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a report on Thursday, May 9th. TD Cowen boosted their target price on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $596.00.

McKesson Stock Up 0.2 %

Shares of McKesson stock traded up $1.43 during trading on Friday, reaching $576.66. 592,987 shares of the company were exchanged, compared to its average volume of 702,688. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The firm has a market capitalization of $74.93 billion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 1.37 and a beta of 0.45. The business has a 50-day moving average price of $574.91 and a 200-day moving average price of $533.02.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $7.19 earnings per share. On average, equities research analysts forecast that McKesson Co. will post 31.53 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.62 dividend. The ex-dividend date was Monday, June 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.43%. McKesson’s dividend payout ratio (DPR) is 11.08%.

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.