Gateway Investment Advisers LLC Has $2.34 Million Position in McKesson Co. (NYSE:MCK)

Gateway Investment Advisers LLC boosted its position in shares of McKesson Co. (NYSE:MCK) by 0.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,729 shares of the company’s stock after buying an additional 42 shares during the quarter. Gateway Investment Advisers LLC’s holdings in McKesson were worth $2,338,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. RFP Financial Group LLC boosted its holdings in McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after buying an additional 17 shares during the period. Modera Wealth Management LLC grew its position in shares of McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares in the last quarter. Larson Financial Group LLC raised its stake in McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after purchasing an additional 17 shares during the period. First Western Trust Bank lifted its holdings in McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after purchasing an additional 18 shares in the last quarter. Finally, KCM Investment Advisors LLC boosted its stake in McKesson by 1.4% in the 1st quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MCK shares. Citigroup lowered their target price on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. StockNews.com downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Argus increased their price target on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Five investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson Trading Down 0.1 %

McKesson stock opened at $505.59 on Friday. The firm has a market capitalization of $65.56 billion, a PE ratio of 22.61, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $528.73 and a 200-day moving average price of $552.97.

McKesson (NYSE:MCK) last announced its 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 negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the business earned $7.27 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. McKesson’s payout ratio is currently 12.70%.

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.