DE Burlo Group Inc. Boosts Stock Holdings in McKesson Co. (NYSE:MCK)

DE Burlo Group Inc. raised its holdings in McKesson Co. (NYSE:MCK) by 43.5% during the second quarter, Holdings Channel.com reports. The firm owned 29,135 shares of the company’s stock after purchasing an additional 8,835 shares during the quarter. McKesson makes up 2.3% of DE Burlo Group Inc.’s investment portfolio, making the stock its 18th largest position. DE Burlo Group Inc.’s holdings in McKesson were worth $17,016,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC raised its position in McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after acquiring an additional 35,712 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in shares of McKesson by 8.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares in the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of McKesson in the first quarter valued at about $5,160,000. Vaughan David Investments LLC IL acquired a new position in McKesson during the second quarter worth about $238,000. Finally, Treasurer of the State of North Carolina increased its holdings in McKesson by 6.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 65,266 shares of the company’s stock valued at $30,217,000 after buying an additional 3,982 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Down 0.3 %

Shares of McKesson stock opened at $479.24 on Thursday. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The business’s fifty day moving average is $556.72 and its two-hundred day moving average is $556.74. The firm has a market cap of $62.15 billion, a PE ratio of 21.41, 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 earnings per share for the quarter, topping 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 firm had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period in the prior year, the business posted $7.27 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that McKesson Co. will post 32.07 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be given a dividend of $0.71 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.59%. McKesson’s dividend payout ratio is 12.69%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the business’s 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 sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 11,259 shares of company stock valued at $6,635,492 over the last quarter. Company insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCK. Argus upped their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Bank of America raised their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their price objective 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 downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $613.36.

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.