McKesson Co. (NYSE:MCK) Shares Purchased by InTrack Investment Management Inc

InTrack Investment Management Inc raised its stake in shares of McKesson Co. (NYSE:MCK) by 83.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,452 shares of the company’s stock after purchasing an additional 2,488 shares during the quarter. McKesson accounts for 1.9% of InTrack Investment Management Inc’s portfolio, making the stock its 9th largest holding. InTrack Investment Management Inc’s holdings in McKesson were worth $2,696,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MCK. LRI Investments LLC bought a new position in McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new stake in McKesson during the 1st quarter worth approximately $29,000. Richardson Financial Services Inc. acquired a new stake in McKesson during the 4th quarter valued at $31,000. Rise Advisors LLC bought a new position in McKesson in the 1st quarter valued at $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in McKesson in the second quarter worth $52,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Down 0.1 %

NYSE:MCK opened at $505.59 on Friday. The firm has a market capitalization of $65.56 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business’s 50-day moving average price is $528.73 and its two-hundred day moving average price is $552.97.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping 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 business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the firm earned $7.27 EPS. McKesson’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts predict that McKesson Co. will post 32.07 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.56%. The ex-dividend date was Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio (DPR) is presently 12.70%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MCK. Evercore ISI lowered their target price on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Finally, Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

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.