Chicago Capital LLC Has $8.73 Million Stock Position in McKesson Co. (NYSE:MCK)

Chicago Capital LLC lowered its stake in McKesson Co. (NYSE:MCK) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 14,945 shares of the company’s stock after selling 118 shares during the period. Chicago Capital LLC’s holdings in McKesson were worth $8,728,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. LRI Investments LLC bought a new stake in McKesson in the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new stake in shares of McKesson during the 1st quarter worth approximately $29,000. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the period. Finally, Richardson Financial Services Inc. bought a new stake in shares of McKesson during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 600 shares of McKesson stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at $1,183,941.66. The disclosure for this sale can be found here. Insiders sold 11,859 shares of company stock valued at $6,986,810 over the last quarter. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 2.1 %

NYSE MCK traded down $10.58 on Friday, hitting $504.17. The company’s stock had a trading volume of 1,924,323 shares, compared to its average volume of 761,035. McKesson Co. has a 1-year low of $412.64 and a 1-year high of $637.51. The company’s 50-day moving average is $574.75 and its 200 day moving average is $557.29. The firm has a market cap of $65.51 billion, a PE ratio of 22.53, a PEG ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the company posted $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that McKesson Co. will post 32.14 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MCK. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Bank of America increased their price objective on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Finally, Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $624.93.

About McKesson

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.