Charles Schwab Investment Management Inc. Acquires 10,977 Shares of McKesson Co. (NYSE:MCK)

Charles Schwab Investment Management Inc. increased its holdings in McKesson Co. (NYSE:MCK) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 804,338 shares of the company’s stock after purchasing an additional 10,977 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.60% of McKesson worth $372,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MCK. OFI Invest Asset Management bought a new stake in McKesson in the third quarter worth $26,000. BKM Wealth Management LLC purchased a new stake in McKesson during the fourth quarter valued at $31,000. WASHINGTON TRUST Co boosted its stake in shares of McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in shares of McKesson during the 3rd quarter valued at approximately $61,000. Finally, Orion Capital Management LLC purchased a new position in shares of McKesson in the third quarter worth $63,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Citigroup raised their target price on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird boosted their target price on McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $559.29.

McKesson Trading Down 0.1 %

Shares of NYSE MCK traded down $0.55 during midday trading on Wednesday, reaching $545.20. 799,422 shares of the stock were exchanged, compared to its average volume of 706,458. The company has a market capitalization of $71.64 billion, a P/E ratio of 24.75, a P/E/G ratio of 1.41 and a beta of 0.45. The stock has a 50 day moving average price of $531.17 and a 200-day moving average price of $493.81. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.01.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same quarter in the previous year, the business posted $7.19 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio (DPR) is 11.24%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.