American Century Companies Inc. Buys 126,567 Shares of McKesson Co. (NYSE:MCK)

American Century Companies Inc. raised its stake in McKesson Co. (NYSE:MCK) by 134.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,619 shares of the company’s stock after acquiring an additional 126,567 shares during the period. American Century Companies Inc. owned approximately 0.17% of McKesson worth $128,850,000 as of its most recent SEC filing.

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

McKesson Stock Performance

NYSE:MCK opened at $518.81 on Friday. The stock has a 50-day simple moving average of $567.33 and a two-hundred day simple moving average of $557.25. McKesson Co. has a 52-week low of $417.65 and a 52-week high of $637.51. The firm has a market capitalization of $67.28 billion, a PE ratio of 23.18, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company 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 firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.27 EPS. Equities analysts forecast that McKesson Co. will post 32.11 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, August 30th. This is a positive change from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.69%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the 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 completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 11,259 shares of company stock valued at $6,635,492 over the last ninety days. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho upped their target price 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. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday. Citigroup lowered their price objective on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Argus lifted their target price on shares of McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.93.

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.