Great Lakes Retirement Inc. Acquires 69 Shares of McKesson Co. (NYSE:MCK)

Great Lakes Retirement Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 0.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,335 shares of the company’s stock after purchasing an additional 69 shares during the quarter. Great Lakes Retirement Inc.’s holdings in McKesson were worth $4,127,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares in the last quarter. Legal & General Group Plc raised its position in McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after purchasing an additional 36,583 shares during the last quarter. Swedbank AB acquired a new position in McKesson during the 1st quarter worth $669,326,000. Boston Partners boosted its position in McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after buying an additional 62,875 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.

McKesson Price Performance

Shares of McKesson stock opened at $501.76 on Thursday. The company has a market capitalization of $65.20 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44. The business has a 50-day moving average of $518.29 and a two-hundred day moving average of $551.37. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts anticipate that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were given a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, August 30th. McKesson’s dividend payout ratio is currently 12.69%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCK shares. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 price target (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Mizuho raised their price objective 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. Finally, Wells Fargo & Company dropped their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $610.86.

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.