Westpac Banking Corp raised its stake in McKesson Co. (NYSE:MCK) by 3.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 166,300 shares of the company’s stock after acquiring an additional 5,479 shares during the quarter. Westpac Banking Corp’s holdings in McKesson were worth $22,349,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MCK. Cerebellum GP LLC acquired a new position in shares of McKesson during the first quarter valued at about $318,000. Commonwealth Equity Services LLC grew its holdings in shares of McKesson by 1.0% during the second quarter. Commonwealth Equity Services LLC now owns 46,991 shares of the company’s stock valued at $6,315,000 after buying an additional 472 shares during the last quarter. Busey Wealth Management grew its holdings in shares of McKesson by 7.1% during the second quarter. Busey Wealth Management now owns 26,511 shares of the company’s stock valued at $3,562,000 after buying an additional 1,768 shares during the last quarter. World Asset Management Inc grew its holdings in shares of McKesson by 27.0% during the first quarter. World Asset Management Inc now owns 17,543 shares of the company’s stock valued at $2,054,000 after buying an additional 3,734 shares during the last quarter. Finally, Hanson & Doremus Investment Management grew its holdings in shares of McKesson by 9.9% during the first quarter. Hanson & Doremus Investment Management now owns 9,531 shares of the company’s stock valued at $1,116,000 after buying an additional 855 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

MCK has been the subject of a number of analyst reports. Wolfe Research cut shares of McKesson from an “outperform” rating to a “peer perform” rating in a report on Monday, August 5th. Credit Suisse Group initiated coverage on shares of McKesson in a report on Monday, July 22nd. They set a “neutral” rating and a $143.00 price target on the stock. TheStreet upgraded shares of McKesson from a “c” rating to a “b” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. initiated coverage on shares of McKesson in a report on Monday, July 22nd. They set an “overweight” rating and a $164.00 price target on the stock. Finally, Bank of America set a $160.00 price target on shares of McKesson and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $148.70.

McKesson stock traded up $3.60 during midday trading on Tuesday, hitting $146.31. 53,427 shares of the stock were exchanged, compared to its average volume of 1,552,234. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $149.99. The company has a market capitalization of $25.92 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.13. The stock’s 50-day simple moving average is $139.75. The company has a quick ratio of 0.58, a current ratio of 1.01 and a debt-to-equity ratio of 1.14.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, July 31st. The company reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.27. McKesson had a net margin of 0.27% and a return on equity of 30.73%. The business had revenue of $55.73 billion for the quarter, compared to analysts’ expectations of $54.03 billion. During the same period in the previous year, the company earned $2.90 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, analysts predict that McKesson Co. will post 14.35 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.41 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 annualized dividend and a yield of 1.12%. McKesson’s payout ratio is currently 11.50%.

In other McKesson news, CEO Brian Scott Tyler sold 1,488 shares of McKesson stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $125.49, for a total value of $186,729.12. Following the sale, the chief executive officer now owns 12,192 shares of the company’s stock, valued at $1,529,974.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 832 shares of McKesson stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $129.17, for a total transaction of $107,469.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,704 shares of company stock worth $625,131. Insiders own 0.88% of the company’s stock.

McKesson Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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