Claro Advisors LLC Raises Holdings in McKesson Co. (NYSE:MCK)

Claro Advisors LLC grew its holdings in shares of McKesson Co. (NYSE:MCK) by 106.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,421 shares of the company’s stock after buying an additional 2,281 shares during the period. Claro Advisors LLC’s holdings in McKesson were worth $2,183,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in McKesson by 1.1% in the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after acquiring an additional 46,659 shares during the last quarter. Legal & General Group Plc increased its stake in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after acquiring an additional 36,583 shares during the last quarter. Swedbank AB acquired a new position in shares of McKesson during the 1st quarter valued at about $669,326,000. Boston Partners increased its holdings in shares of McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after purchasing an additional 62,875 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock traded down $3.91 during mid-day trading on Friday, hitting $504.81. 96,945 shares of the stock were exchanged, compared to its average volume of 804,034. The stock’s fifty day simple moving average is $521.73 and its two-hundred day simple moving average is $552.12. The stock has a market capitalization of $65.59 billion, a price-to-earnings ratio of 22.73, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its 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. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.27 EPS. On average, research analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from McKesson’s previous quarterly dividend of $0.62. McKesson’s payout ratio is 12.69%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MCK. Citigroup lowered their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a research report on Tuesday, September 10th. Leerink Partners reduced their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Argus increased their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $610.86.

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.